Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3175 W Elm St Lima, OH 45805

    Sponsored
    For Sale
    $998,000

    COMMERCIAL - Lima, OH

    Property size:
    30,000 SF
    Lot size:
    10.13 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 21 at 7:06 am

    Property Features for 3175 W Elm St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    36-3410-02-006.001
    Parking features
    Parking Lot
    Size
    30,000 SF
    Lot size
    10.13 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Flooring type
    Concrete
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Gregory Stolly

    CCR Real Estate LLC (419) 371-3085 [email protected]

    Listing agent Gregory Stolly (419) 302-1890

    Listing date Jan 20, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Remodeled Event Venue on Acreage

    This commercial property, located in Lima, OH, features a 30,000 sq ft building constructed in 1985 and completely remodeled in 2020. The building is designed as an event and banquet venue, featuring a large kitchen and event rooms with seating for up to 350 people. An outdoor patio provides additional seating for up to 100 people. The property has a unique barn setting and sits on 10.13 acres, with 4.9 acres remaining undeveloped. Owner financing is a possibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Old Barn Restaurant ... Buffet Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store 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
    -84.163181
    Latitude
    40.735082

    Nearby Similar for Sale

    • $325,000
      2,698 SF

      Medical Office Building For Sale

      Medical office building with ample parking in Lima, Ohio.
      1331 W Market St, Lima, OH 45805
      View Details
    • $2,999,999
      18,182 SF

      Medical Office Building Near Hospital

      Well-maintained medical office building near Mercy Hospital in Lima, OH.
      916-920 W Market St, Lima, OH 45805
      View Details
    • $400,000
      2,255 SF

      Historic Office Building with Parking

      Remodeled office building with parking near downtown Lima.
      303 E High St, Lima, OH 45801
      View Details
    • $70,000
      1,496 SF

      Commercial Pole Barn Near Lincoln Park

      Metal pole barn suitable for retail or automotive use.
      170 S Perry St, Lima, OH 45804
      View Details
    • New
      $89,000
      1,952 SF

      Lima, OH Duplex Investment

      Value-add duplex in Lima, OH, ready for renovation.
      1323 W Elm St, Lima, OH 45805
      View Details
    • New
      $150,000
      3,134 SF

      Updated Commercial Buildings on Corner Lot

      Two move-in ready buildings with updated utilities and off-street parking.
      855 N Metcalf St, Lima, OH 45801
      View Details
    • New
      $150,000
      3,134 SF

      Updated Commercial Property on Corner Lot

      Two move-in ready buildings with updated utilities and off-street parking.
      855 N Metcalf St, Lima, OH 45801
      View Details
    • $140,000

      Multi-Family Investment Opportunity in Lima

      Multi-family property with renovation potential in an opportunity zone.
      627-631 Brice Ave, Lima, OH 45801
      View Details
    • $450,000
      47,528 SF

      Spacious Warehouse in Lima, Ohio

      47,500+ sq ft warehouse on .291 acres with rear parking.
      123 E Wayne St, Lima, OH 45801
      View Details
    • $179,900
      4,000 SF

      Retail Property in High-Traffic Area

      Retail property with open floor plan and income potential.
      1214 Allentown Rd, Lima, OH 45805
      View Details
    • $599,000
      2,788 SF

      Turnkey Restaurant in Lima, Ohio

      Fully equipped restaurant remodeled in 2021 with liquor license.
      2228 Shawnee Rd, Lima, OH 45805
      View Details
    • $725,000
      Pending

      Commercial Building and Land For Sale

      Commercial building and land available for purchase in Lima, Ohio.
      712 N Eastown Rd, Lima, OH 45805
      View Details

    FAQs

    What type of property is this?
    Wedding venue - 30,000 sq ft event venue on 10.13 acres.
    Where is this wedding venue located?
    The property is located at 3175 W Elm St Lima, OH.
    What is the asking price?
    The asking price for this property is $998,000.
    What are key features of this property?
    This property features: - Completely remodeled in 2020.; - Large event and banquet rooms seating up to 350 people.; - Unique barn setting.
    (419) 302-1890
    Request Owner's contact information
    3175 W Elm St Lima, OH 45805
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3175 W Elm St
    Lima, OH 45805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    3175 W Elm St Lima, OH 45805
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gregory Stolly
    (419) 302-1890
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.