2450 Reynolds RdToledo, OH 43614

Property Details for 2450 Reynolds Rd

Year built

2005

Lot size

2.60 AC

Property size (Sq ft)

18,128 SF

Zone code

10-CR

Property type

Retail space

APN

20-01330

APU

2001330

Description

This exceptional 14,564 square foot former Rite Aid retail space in Toledo, Ohio, presents a compelling investment opportunity. Strategically located on the hard corner of S. Reynolds Road and Heatherdowns Boulevard, this single-tenant property benefits from a combined daily traffic count of 53,000 vehicles, ensuring high visibility and exposure. The property features a convenient drive-thru lane and two large pylon signs for optimal marketing. Its prime location offers direct access to I-80/90 (Ohio Turnpike), enhancing accessibility. The surrounding area boasts a strong retail presence, including national tenants such as Kroger, Goodwill, and a new 150,000 square foot Amazon delivery station, creating a synergistic environment with high consumer traffic. The 5-mile trade area encompasses a substantial population of 153,802 residents and 84,038 daytime employees, with an average household income of $91,426. Furthermore, the property's proximity to several large apartment complexes, including Alt Stone Bridge, The Woodlands, and Genesis Village, provides a readily available residential customer base. This property is situated in Lucas County, Ohio, with the address being 2450 S Reynolds Rd, Toledo, OH 43614.

• CAP approach

  CAP return

  Valuation

  6%

  $4,561,844

  6.5%

  $4,210,932

  7%

  $3,910,152

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,273,146

  Geo Method

  $4,273,146

• Alternative Use

  Use

  Valuation

  Residential

  $3,552,079

  Hospitality

  $3,253,686

  Educational

  $2,707,028

  Medical

  $2,800,127

  Retail

  $4,210,932

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.5955

Longitude

-83.6654

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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