821 Alexis RdToledo, OH 43612

Property Details for 821 Alexis Rd

Year built

1990

Lot size

9.88 AC

Property size (Sq ft)

90,507 SF

Zone code

10-CRSO

Property type

Community centers

APN

22-88541

APU

2288541

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $22,775,750

  6.5%

  $21,023,768

  7%

  $19,522,070

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,334,382

  Geo Method

  $21,334,382

• Alternative Use

  Use

  Valuation

  Residential

  $17,734,336

  Hospitality

  $16,244,556

  Educational

  $13,515,280

  Medical

  $13,980,091

  Retail

  $21,023,768

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.7197

Longitude

-83.5621

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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