Jeff Gove posted a 70 to take second place at 12-under-par 276. Jamie Broce was next at 11-under-par 277 while David McKenzie finished alone in fourth place at 10-under-par 278.
Toledo, a veteran of the PGA and Nationwide Tours, fired a 65 on Saturday to give himself a three-shot lead heading into the final round on the Upper Course in search of his maiden title. He started well with a birdie at the par-4 third, but gave a shot back with a bogey at the very next hole.
He added a birdie at the par-5 ninth, but missed the fairway off the tee at the 12th and walked away with a bogey. Toledo redeemed himself at the par-5 14th, however, when he holed out from the fairway with his third shot for an eagle. That separated himself from his challengers.
Toledo found trouble with a bogey at the 15th, but the eagle at the previous hole proved to be enough for the win.
'It's just fantastic,' Toledo said. 'I dreamed about. I worked very hard over the years. It finally paid off.'
Gove picked up a birdie at the second, but struggled to a bogey at the fourth. Gove answered with a birdie at the very next hole and picked up a birdie at the ninth to make the turn at 12 under.
He moved to minus-13 with a birdie at the par-4 11th, but stumbled to a bogey at the 14th and parred his way in to finish in second place.
'I was in contention today which was great,' said Gove. 'My swing almost held on. I'm happy with how I finished and I worked hard all week.'
Scott Parel and Jon Mills tied for fifth place at 9-under-par 279. Craig Lile, Matt Weibring and David Morland IV shared seventh place at 8-under-par 280.
Jason Gore, who shared the second-round lead of the U.S. Open, shot a 72 to join Steve Larick in a tie for 10th place at 7-under-par 281.