Multi-Unit Retail
For Sale
$259,000
1102-1104 N West Street, Lima, OH 45801
A compact retail property offers multiple units near Lima’s North End.
Property Size3,836 SF
Price / SF$67.52
Days on Market15
Property Features for 1102-1104 N West Street
General Information
Standard status
Active
Size
3,836 SF
Amenities
true
Public
10
Private
3836
Building Details
Building Size
3,836 SF
Year Built
1960
Listing Agency:
CCR Realtors
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Source:
Koehlerrealty
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 28 at 12:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CCR Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property at 1102-1104 N West Street contains 3,836 square feet and was built in 1960. The listing describes the configuration as 5-6 units, providing multiple retail spaces within one building.
The property is located near Lima’s North End in Lima, Ohio.
The property is located near Lima’s North End in Lima, Ohio.
Key Highlights
- 3,836‑square‑foot retail property
- Built in 1960
- Described as having 5‑6 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,224
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,480
$304.5K
Cap Rate 7%
$217,486
$217.5K
Cap Rate 9%
$169,156
$169.2K
Market Conditions
NOI Build-Up for 3,836 SF
Gross rent
$22.6K $5.88/SF
− Vacancy
−$807 −$0.21/SF
EGI
$21.7K $5.67/SF
− OpEx
−$6.5K −$1.70/SF
NOI
$15.2K $3.97/SF
Area
Allen County, OH
Vacancy
3.58%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,480
Cap Rate 7%
$217,486
Cap Rate 9%
$169,156
Alternative Uses
Best Use
Retail
$217.5K
$190.3K – $253.7K
NOI $15,224 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.0K
$808.5K – $1.08M
NOI $64,677 @ 7.0% cap · market cap 24.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 45801, OH
22,819
Population
9,351
Households
2.4
Avg Household Size
38
Median Age
12%
College-Educated
90%
High-School Grad
45.7 sq mi
ZIP Area
499
Density / Sq Mi
$47,442
Median Household Income
$33,224
Median Earnings
$865
Median Rent
$111,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - A compact retail property offers multiple units near Lima’s North End.
Where is this strip mall located?
The property is located at 1102-1104 N West Street Lima, OH.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 3,836‑square‑foot retail property; Built in 1960; Described as having 5‑6 units
