Industrial Building with 3
1700 Elida Road Lima, OH 45805
New
1700 Elida Road, Lima, OH, 45805
$2,750,000
For Sale
$2,750,000
COMMERCIAL - Lima, OH
Property Size45,000 SF
Price / SF$61.11
Days on Market7
Property Features for 1700 Elida Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 36-2605-08-005.000
- Size
- 45,000 SF
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1949
- Building materials
- Steel Frame
- Roof type
- Concrete, Metal
Listing agency
Hartsock Realty
(419) 222-0447
Listed by
Jeff Dulmage · License #2015002150
(419) 302-3940
Added: Jul 15 Checked: Jul 21 at 8:06PM
MLS# 310858
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.
This for-sale industrial warehouse property offers approximately 45,000 square feet of warehouse space. The building includes three loading docks and is being marketed with a NNN lease in place.
Access is described as easy off State Route 309, and the property is located at 1700 Elida Road in Lima, OH 45805. An additional lot may be available for purchase, potentially supporting expansion.
Per the provided remarks, the property has a 3.5-year NNN lease currently in place at $15,000 per month. The tenant pays all expenses, including taxes, insurance, maintenance, and utilities.
Access is described as easy off State Route 309, and the property is located at 1700 Elida Road in Lima, OH 45805. An additional lot may be available for purchase, potentially supporting expansion.
Per the provided remarks, the property has a 3.5-year NNN lease currently in place at $15,000 per month. The tenant pays all expenses, including taxes, insurance, maintenance, and utilities.
Key Highlights
- 45,000 SF industrial warehouse building with Steel Frame construction
- 3 docks with easy access off State Route 309
- 3.5‑year NNN lease in place at $15,000/month; tenant pays taxes, insurance, maintenance, and utilities
Local Financial Insights For Warehouse
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 | $288.5k | $6.41 |
| − Vacancy | −$24.3k | −$0.54 |
| EGI | $264.2k | $5.87 |
| − OpEx | −$39.6k | −$0.88 |
| NOI | $224.5k | $4.99 |
45,000 SF · lease $6.41/SF/yr · vacancy 8.42% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.21M
$2.81M – $3.74M
NOI $224,538 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.84M
$9.48M – $12.65M
NOI $758,722 @ 7.0% cap · market cap 27.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Metal Coating Co
Renovation Specialist
Similar For Sale Nearby
Similar Off Market Nearby
- Shawnee Self Storage — 1850 Arthur Ave, Lima, OH 45805
- Land O'Lakes Purina Feed — 1111 N Cole St, Lima, OH 45805
- Self-Storage at U-Haul — 1608 Elida Rd, Lima, OH 45805
- Global Self Storage — 1910 W Robb Ave, Lima, OH 45805
FAQs
What type of property is this?
Warehouse - Industrial warehouse offering three loading docks with easy access off State Route 309.
Where is this warehouse located?
The property is located at 1700 Elida Road Lima, OH.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 45,000 SF industrial warehouse building with Steel Frame construction; 3 docks with easy access off State Route 309; 3.5‑year NNN lease in place at $15,000/month; tenant pays taxes, insurance, maintenance, and utilities
