The present research was motivated by the growing interest of the scientific community towards the understanding of basic gas–surface interaction mechanisms in 1D nanostructured metal oxide semiconductors, whose significantly enhanced chemical detection sensitivity is known. In this work, impedance spectroscopy (IS) was used to evaluate how a top-down patterning of the sensitive layer can modulate the electrical properties of a gas sensor based on a fully integrated nanometric array of TiO2 polycrystalline strips. The aim of the study was supported by comparative experimental activity carried out on different thin film gas sensors based on identical TiO2 polycrystalline sensitive thin films. The impedance responses of the investigated devices under dry air (as the reference environment) and ethanol vapors (as the target gas) were fitted by a complex nonlinear least-squares method using LEVM software, in order to find an appropriate equivalent circuit describing the main conduction processes involved in the gas/semiconductor interactions. Two different equivalent circuit models were identified as completely representative of the TiO2 thin film and the TiO2 nanostructure-based gas sensors, respectively. All the circuit parameters were quantified and the related standard deviations were evaluated. The simulated results well approximated the experimental data as indicated by the small mean errors of the fits (in the range of 10−4) and the small standard deviations of the circuit parameters. In addition to the substrate capacitance, three different contributions to the overall conduction mechanism were identified for both equivalent circuits: bulk conductivity, intergrain contact and semiconductor–electrode contact, electrically represented by an ideal resistor Rg, a parallel RgbCgb block and a parallel Rc-CPEc combination, respectively. In terms of equivalent circuit modeling, the sensitive layer patterning introduced an additional parameter in parallel connection with the whole circuit block. Such a circuit element (an ideal inductor, L) has an average value of about 125 μH and exhibits no direct dependence on the analyte gas concentration. Its presence could be due to complex mutual inductance effects occurring both between all the adjacent nanostrips (10 µm spaced) and between the nanostrips and the n-type-doped silicon substrate underneath the thermal oxide (wire/plate effect), where a two order of magnitude higher magnetic permeability of silicon can give L values comparable with those estimated by the fitting procedure. Slightly modified experimental models confirmed that the theoretical background, regulating thin film devices based on metal oxide semiconductors, is also valid for nanopatterned devices.