Charming Three-Story Mixed-Use Investment Opportunity on Tremainsville Road
Located at 1861 Tremainsville Rd in Toledo, Ohio, this standout three-story mixed-use building presents a rare and exciting opportunity for investors, small business owners, or those looking to combine residential living with a business venture. Listed at $189,900, the property blends residential comfort with commercial utility—making it a flexible investment in a desirable and well-traveled area of Toledo.
From the outside, the building has a classic, functional appeal that reflects both its historic character and the practical uses it offers today. With two apartments and one retail/office space, it is ideally structured for steady income generation, whether fully tenant-occupied or partially owner-occupied.
Residential Living Spaces
The building features two separate apartments, one positioned on the upper level and the other on the lower level.
The upper apartment is a welcoming two-bedroom, one-bath unit. Bright and functional, this space is designed to suit a wide variety of renters, from singles to small families or anyone looking for an affordable, conveniently located home. The bedrooms are well-sized and offer comfortable layouts, while the full bathroom provides all essential amenities. Currently tenant-occupied, it generates reliable monthly income and has been maintained by renters who have expressed interest in staying—an advantage for an investor seeking stability.
The lower apartment, presently vacant, opens the door for immediate possibilities. New owners may choose to renovate, update the amenities, or place it back on the rental market quickly to bring in additional cash flow. The option to modernize this unit could also boost the overall value of the property and attract long-term residents. Its vacancy also provides flexibility for buyers who may want to live on-site while operating a business from the commercial level.
Altogether, the building’s residential component spans three bedrooms and two bathrooms, meeting the demands of rental markets that favor practical, manageable space.
Versatile Commercial Space
The middle level of the building is currently used by a pet groomer, taking advantage of the property’s visibility and accessibility. This commercial space is perfectly suited for a variety of business uses—retail, office, personal services, or even specialized professional operations. The flexible layout means it can easily be adapted to fit the next owner’s vision.
Like the residential units, the commercial tenant is also on a month-to-month lease, offering options for continued steady income or redevelopment of the space. This format is ideal for business owners who wish to occupy the property themselves, as the transition can be easily coordinated.
Parking and Accessibility
Practicality is enhanced by the property’s two total parking spaces, featuring an attached garage with two dedicated garage spaces. Additional parking is available on-site, ensuring convenience for tenants, customers, or owners. For a mixed-use property, this is a significant advantage, particularly for retail or service-based businesses that rely on customer access.
Investment Flexibility and Appeal
Perhaps the most compelling feature of this property is its flexibility. With all tenants operating on month-to-month leases, buyers have the freedom to maintain the current rental structure or make changes to suit their goals. Whether you plan to keep it fully tenant-occupied, renovate for increased rental rates, or run a business from the building while living in one of the apartments, the possibilities are wide open.
Given its mixed-use nature, desirable location, existing income potential, and attractive price point, 1861 Tremainsville Rd represents an excellent opportunity to enter or expand within Toledo’s real estate market. Whether you’re an investor seeking consistent returns or an entrepreneur searching for an ideal live-work setup, this property is well worth considering.
INSIDE PHOTOS:
FROM ZILLOW