2429 Reynolds RdToledo, OH 43614

Property Details for 2429 Reynolds Rd

Year built

1968

Lot size

10.84 AC

Property size (Sq ft)

160,811 SF

Zone code

10-MX

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

20-24991

APU

2024991

Description

This exceptional commercial land parcel, located at 2429 S Reynolds Rd in Toledo, Ohio (Lucas County, zip code 43614), presents a unique ground lease opportunity. Currently utilized as a parking lot, this property offers significant potential for various commercial ventures. The site boasts a prime location at the intersection of busy Heatherdowns Blvd and S Reynolds Road, experiencing over 16,000 vehicles daily. This high-traffic retail corridor benefits from a dense residential population and the proximity of a thriving independent living center, ensuring a consistent customer base. The strategic location also places the property near a major Amazon Fulfillment Center and Arrowhead Business Park, further enhancing its appeal and accessibility. The available land is adaptable to suit a range of business needs, offering flexibility for development. This is an excellent chance to establish a presence in a dynamic and rapidly growing area of Toledo. The property is offered as a ground lease. Interested parties should be prepared to explore the terms of a ground lease agreement with the owners of Genesis Retirement Village. The property's high visibility and convenient location make it an ideal investment for businesses seeking a strong foothold in a bustling commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $34,135,840

  6.5%

  $31,510,006

  7%

  $29,259,292

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,315,504

  Geo Method

  $23,315,504

• Alternative Use

  Use

  Valuation

  Residential

  $31,510,006

  Hospitality

  $28,862,996

  Educational

  $24,013,674

  Medical

  $24,839,542

  Retail

  $37,354,604

Location Insight

City

Toledo

County

Lucas

State

Ohio

Latitude

41.5962

Longitude

-83.6628

CBSA code

45780

CBSA name

TOLEDO, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].