Medical Office Corner
1601 Allentown Road Lima, OH 45805
1601 Allentown Road, Lima, OH, 45805
$650,000
For Sale
$650,000
COMMERCIAL - Lima, OH
Property Size4,995 SF
Price / SF$130.13
Days on Market156
Property Features for 1601 Allentown Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- B1
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Parking features
- Off Street
- Security features
- Security
- Standard status
- Active
- APN
- 36-2612-20-001.000
- Size
- 4,995 SF
Taxes and HOA fees
- Tax Description
- CARSON DALZELLS SUB DIVISION LOT 4 N END-E SIDE FF 88.37
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2000
- Floors in Building
- 1
- Flooring type
- Vinyl, Carpet
- Building materials
- Block
- Roof type
- Metal
Listing agency
CCR Realtors
(419) 222-0555
Listed by
Joseph Guagenti · License #423909
(419) 230-5050
Added: Feb 16 Updated: Jun 9 at 1:03PM Checked: Jul 22 at 1:06PM
MLS# 309452
Copyright © 2026 West Central Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2000, this corner commercial building was originally constructed for retail use and has since been converted to medical office space. The property includes an overhead door at the rear, providing dedicated access for receiving.
Located on the corner of Allentown Road and Nixon Ave in Lima, Ohio, the building sits within B1 zoning.
The layout is designed for professional office use, and the rear overhead door supports operations that require deliveries or product intake.
Located on the corner of Allentown Road and Nixon Ave in Lima, Ohio, the building sits within B1 zoning.
The layout is designed for professional office use, and the rear overhead door supports operations that require deliveries or product intake.
Key Highlights
- Building constructed in 2000 with block construction materials
- Converted from retail to medical office use (original use retail)
- Central air cooling with forced‑air natural gas heating
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.9k | $21.00 |
| − Vacancy | −$11.0k | −$2.21 |
| EGI | $93.9k | $18.80 |
| − OpEx | −$37.6k | −$7.52 |
| NOI | $56.3k | $11.28 |
4,995 SF · lease $21.00/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$904.2K
$791.2K – $1.05M
NOI $63,297 @ 7.0% cap · market cap 9.74%
Second Best
Healthcare Medical
$804.7K
$704.1K – $938.8K
NOI $56,329 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,218 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kathy Hounshell, LMT ...
Alternative Medicine Practice
Stemen Chiropractic Clinic
Physician
Michael T. Stemen, ...
Alternative Medicine Practice
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FAQs
What type of property is this?
Medical Office Space - Built in 2000, this corner office building has been converted to medical office space with a back receiving overhead door.
Where is this medical office space located?
The property is located at 1601 Allentown Road Lima, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Building constructed in 2000 with block construction materials; Converted from retail to medical office use (original use retail); Central air cooling with forced‑air natural gas heating
