Versatile Commercial Building in
1924 Allentown Road, Lima, OH 45805
COMMERCIAL - Lima, OH
Type:Office
Property size:
1,377 SFLot size:
0.29 AcresPrice / SF:
$156/SF- Added:
- Apr 13, 2026
- Days on Market:
- 51
- Last Refresh:
- Jun 2 at 5:06 pm
Property Features for 1924 Allentown Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- Commercial
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Parking features
- Parking Lot, Off Street
- Standard status
- Active
- APN
- 36-2610-04-023.000
- Size
- 1,377 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Description
- MACKENZIE TRACT WESTGATE MANOR #7 PT LOT 23405 JOINT TEN FF
- Tax Annual Amount
- 2330
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1961
- Floors in Building
- 1
- Flooring type
- Carpet
- Building materials
- Brick, Vinyl Siding
Listing agent Randall Faulder (419) 302-6455
Listing office Ron Spencer Real Estate 2895 Harding Highway, Lima, OH (419) 228-8899
Listing date Apr 13, 2026
MLS# 309942
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.
HighLights
- Versatile office space (approx. 1,377 sq. ft.) with 4‑5 private offices, suitable for various professional or service‑based businesses.
- Ample off‑street parking in a private parking lot, convenient for employees and clients.
- Excellent visibility with a dedicated roadside sign on a well‑traveled area.
- Functional layout including a welcoming lobby/reception area and 2 restrooms.
- Durable brick and vinyl exterior for low‑maintenance appeal.
- Equipped with essential amenities: forced air heat, central air, city water, and sewer services.
Overview
This single-story commercial building, most recently used as a medical office, was built in 1961. It offers approximately 1,377 square feet of versatile office space on a 0.298-acre lot in Lima, OH. The structure features a durable brick and vinyl exterior. The layout includes 4-5 private offices, making it suitable for professional or service-based businesses. A welcoming lobby and reception area provide a functional entry point for clients and visitors, while 2 restrooms add convenience for staff and guests. The property is equipped with single-phase electric service, forced air heat, and central air. City water and sewer services are in place. A private parking lot provides off-street parking. A dedicated roadside sign enhances visibility and advertising potential along a well-traveled area. This property presents an opportunity for an owner-occupant or investor seeking a flexible office layout in a convenient location. With its practical design, solid construction, and essential amenities, it is well-suited to accommodate a wide range of business uses. The property is located at 1924 Allentown Road, Lima, OH 45805, in Allen County.
Local Financial Insights For Office B
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 | $26.4k | $19.20 |
| − Vacancy | −$3.2k | −$2.30 |
| EGI | $23.3k | $16.90 |
| − OpEx | −$5.8k | −$4.22 |
| NOI | $17.4k | $12.67 |
1,377 SF · lease $19.20/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$249.3K
$218.1K – $290.8K
NOI $17,449 @ 7.0% cap · market cap 8.12%
Second Best
Healthcare Medical
$221.8K
$194.1K – $258.8K
NOI $15,528 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$331.7K
$290.2K – $387.0K
NOI $23,217 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Dr. David A. Cooley, ...
Physician
Similar Places Nearby
- Petco Vaccination Clinic — 2430 Allentown Rd, Lima, OH 45805
Location Insight
- Map
- Local Demand
- City
- Lima
- County
- Allen
- State
- Ohio
- Longitude
- -84.14505
- Latitude
- 40.748304
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Single-story commercial building with versatile office space for sale.
Where is this medical office space located?
The property is located at 1924 Allentown Road Lima, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Versatile office space (approx. 1,377 sq. ft.) with **4‑5 private offices**, suitable for various professional or service‑based businesses.; Ample off‑street parking in a private parking lot, convenient for employees and clients.; **Excellent visibility** with a dedicated roadside sign on a well‑traveled area.
