Property profile

821 Alexis Rd Toledo, OH 43612

OFF-MARKET
Community centers
Property ID
US66-1904158
90,507 SF 9.88 ac lot Built 1990
Individually Owned 13-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

North Towne Commons, located at 821 W. Alexis Rd, Toledo, OH 43612, presents a rare leasing opportunity within a thriving super regional shopping center. This 90,507 square foot property, situated in Lucas County, offers multiple tenancy options ranging from 13,000 to 30,925 square feet. The center boasts a strong anchor tenant lineup including Kroger, a remodeled Target (2021), and Office Max, ensuring high foot traffic and visibility. Numerous national in-line tenants such as Aaron's, Shoe Show Mega Store, and Penn Station further enhance the center's appeal and draw a diverse customer base. The property is professionally maintained and benefits from a primary access point with a traffic signal, maximizing convenience and exposure. North Towne Commons is part of a larger 400,000 square foot retail development at the southeast corner of Alexis Rd. and Lewis Ave., strategically positioned to serve residents of North and West Toledo, as well as Southeastern Michigan. The area's robust economy is supported by significant employers, including major players like GM Powertrain Toledo Transmission Operations and Chrysler Toledo Assembly Plant, providing a substantial and stable consumer base for the retail center. This prime location offers exceptional potential for businesses seeking high visibility and a strong customer base in a well-established retail environment.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1990
Total area 90,507 SF
Lot 9.88 ac (430,449 SF)
Zoning code 10-CRSO
APN 22-88541
UPID US66-1904158

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • (Bike/Boat/Book/etc) Store Cosmetic Store
  • Furniture & Home Goods Home Decor Store
  • Take-out & Catering
  • (Bike/Boat/Book/etc) Store Alternative Medicine Practice

Location

821 Alexis Rd Toledo, OH 43612-4393
Toledo metro Census 5704 TOLEDO, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$10.60M
Comparable Approach Comparable
$9.57M
Blend (final) Blend
$8.72M

Owner & transaction history

since 2012
3 recorded transactions
2012
$8,665
2007
Price N/A
2006
$6.9M

Zoning & alternative use

10-CRSO · Toledo, OH
Top alternative use upside
Restaurant $14.3M +123.8%
Medical building $6.7M +5.0%
Auto repair, garage $6.6M +3.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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