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    4181-4191 Elida Rd Lima, OH 45807

    For Sale
    $650,000

    5.3 Acres, High Traffic Location

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 5.3-acre property in Lima, Ohio, presents a unique investment opportunity. The offering includes an 8448 square foot commercial building and a single-family home, situated on two parcels boasting 500 feet of road frontage along a high-traffic corridor. The commercial building has been completely gutted, providing a blank canvas for a customized build-out to suit a variety of business needs. Significant recent improvements have been made to the property, including the installation of new drain tiles and a gas line, expansion of the parking area, and extensive grading work. A substantial area of wooded land has been cleared, making the site ideal for immediate development. The single-family home offers potential for rental income, further enhancing the return on investment. The property's prime location and extensive recent upgrades make it an attractive proposition for developers and investors seeking a ready-to-develop site with significant potential. The property is ready for immediate occupancy and development. This is a rare opportunity to acquire a large, well-located commercial property in a thriving area. The combination of the commercial building and the single-family home provides flexibility and multiple income streams. The extensive road frontage ensures high visibility and accessibility. Don't miss this chance to secure a valuable asset in a desirable location.

    Property Features for 4181-4191 Elida Rd

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1956
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.18024
    Latitude
    40.77707

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    FAQs

    What type of property is this?
    Commercial real estate - 5.3 Acres, High Traffic Location
    Where is this commercial real estate located?
    The property is located at 4181-4191 Elida Rd Lima, OH.
    What is the asking price?
    The asking price for this property is $650,000.
    (419) 222-0447
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    4181-4191 Elida Rd Lima, OH 45807
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    Realmo Value Estimation

    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.

    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.

    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
    4181-4191 Elida Rd Lima, OH 45807
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