Single-Story Medical Office
1924 Allentown Road Lima, OH 45805
1924 Allentown Road, Lima, OH, 45805
$215,000
For Sale
$215,000
COMMERCIAL - Lima, OH
Property Size1,377 SF
Lot Size0.30 Acres
Price / SF$156.14
Days on Market100
Property Features for 1924 Allentown Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- Commercial
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Parking features
- Parking Lot, Off Street
- Standard status
- Active
- APN
- 36-2610-04-023.000
- Size
- 1,377 SF
- Lot size
- 0.30 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
- Natural Gas, Forced Air
- 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 agency
Ron Spencer Real Estate
(419) 228-8899
Listed by
Randall Faulder
(419) 302-6455
Added: Apr 13 Updated: Jun 25 at 9:23AM Checked: Jul 21 at 11:06AM
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.
Investment Insights
Based on property information with market context.
Single-story commercial building most recently used as a medical office, built in 1961 and finished with a brick and vinyl exterior. The interior layout includes a welcoming lobby and reception area, along with 4–5 private offices and two restrooms. The property is supported by single-phase electric service, forced-air heat, and central air to support year-round comfort.
Additional site and utility details include city water and sewer services, plus a private parking lot providing off-street parking. A dedicated roadside sign is also included.
Located in a Commercial-zoned setting, this building offers a flexible office layout suitable for an owner-occupant or investor seeking a professional environment with established infrastructure and parking.
Additional site and utility details include city water and sewer services, plus a private parking lot providing off-street parking. A dedicated roadside sign is also included.
Located in a Commercial-zoned setting, this building offers a flexible office layout suitable for an owner-occupant or investor seeking a professional environment with established infrastructure and parking.
Key Highlights
- Single‑story commercial building built in 1961 with approx. 1,377 SF of office space
- Brick and vinyl siding exterior with carpet flooring
- Office layout includes 4–5 private offices plus a lobby/reception area
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. David A. Cooley, ...
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Petco Vaccination Clinic — 2430 Allentown Rd, Lima, OH 45805
FAQs
What type of property is this?
Medical Office Space - Single-story building with 4–5 private offices, lobby/reception, two restrooms, and a private off-street parking lot.
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: Single‑story commercial building built in 1961 with approx. 1,377 SF of office space; Brick and vinyl siding exterior with carpet flooring; Office layout includes 4–5 private offices plus a lobby/reception area
