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    Lima Mixed-Use Investment Opportunity Title is generated by Realmo AI

    200 N Metcalf Street, Lima, OH 45801

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    New
    For Sale
    $925,000

    COMMERCIAL - Lima, OH

    Property size:
    6,912 SF
    Price / SF:
    $133/SF
    Added:
    May 12, 2026
    Days on Market:
    2
    Last Refresh:
    May 13 at 3:06 am

    Property Features for 200 N Metcalf Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    36-3605-16-009.000
    Size
    6,912 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990

    We can help!

    Listing Contact
    Gregory Stolly

    Listing agent Gregory Stolly

    Listing office CCR Realtors 1737 Allentown Road, Lima, OH

    Listing date May 12, 2026

    MLS# 310224

    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

    • High income potential: Earn $51,300 annually from 5 units plus $32,400 from commercial space.
    • Includes 6,379 sq. ft. commercial space currently rented with 2 years remaining on lease.
    • NNN Leases: All residential leases are NNN (Triple Net).
    • Individually Metered Units: All units are individually metered.
    • Two Vacant Apartments: Includes two vacant, ready‑to‑rent apartments (1,180 sq. ft. each) with potential income of $800/month per unit.
    • Tenant Stability: Current commercial tenant has long‑term interest in staying at the property.

    Overview

    This mixed-use property in Lima, OH, features a total of five units. Four of the units are currently rented, generating a total annual rental income of $51,300. All units are individually metered, and all leases are NNN. The property includes a commercial space located at 608 W. High Street, encompassing 6,379 square feet. This space is currently rented with two years remaining on the lease, providing an annual rental income of $32,400. The tenant has expressed long-term interest in remaining at the property. Additionally, the property includes two vacant apartments, each measuring 1,180 square feet. The potential monthly income per apartment is $800.00, resulting in a potential annual income of $51,600 from these two units. The property size is 6,912 square feet and is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Patrick Staffing Employment Agency Boost Mobile Mobile Phone Store SELF-MADE TAX TRAIN Tax Preparation Tiffany Campground & RV Park Just Smokes (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.113021
    Latitude
    40.741688

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    FAQs

    What type of property is this?
    Mixed-use property - Five units, including commercial space and apartments, generating income.
    Where is this mixed-use property located?
    The property is located at 200 N Metcalf Street Lima, OH.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: High income potential: Earn $51,300 annually from 5 units plus $32,400 from commercial space.; Includes 6,379 sq. ft. commercial space currently rented with 2 years remaining on lease.; NNN Leases: All residential leases are NNN (Triple Net).
    (419) 302-1890
    We can help!
    Listing Contact
    Gregory Stolly
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    200 N Metcalf Street, Lima, OH 45801
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