Police said there was a fight between two men outside Gino's Pizza before the 22-year-old was shot around 11:30 p.m., according to Jordan Strack of WTOL 11.
Douglas was transported to hospital, where he later died, added Strack, who says no arrests have been made.
Rockets head coach Jason Candle mourned Douglas' death in a tweet on Wednesday morning.
"JD will forever be part of the Rocket Family and his infectious smile will never be forgotten," Candle wrote.
Toledo athletic director Mike O'Brien also released a statement on Wednesday.
"We were all shocked to learn of the tragic death of Jahneil Douglas," he said, according to ESPN. "This is a devastating loss for our football team and our University, and a very sad day for all of us in Rocket Nation. Our deepest condolences go out to Jahneil's family and friends."
Douglas was set to play his junior campaign at Toledo in 2020 after playing in 12 games over his first two seasons with the school.