Multi-Unit Strip
For Sale
$259,000
1102-1104 N West Street, Lima, OH 45801
Commercial Sale, Lima, OH
Property Size3,836 SF
Price / SF$67.52
Days on Market321
Property Features for 1102-1104 N West Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Parking
10
Standard status
Active
APN
37-3006.06.014..000
Size
3,836 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Building materials
Block, Brick
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Added: Nov 20, 2025
Changed: Oct 2
Last Checked: Oct 7 at 7:06AM
MLS# 308882
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.
This commercial strip mall contains 3,836 square feet and is configured for 5-6 units. Built in 1960, the property features block and brick construction, forced-air heating powered by natural gas, and central air conditioning. Public water and public sewer serve the building.
The property is located at 1102-1104 N West Street in Lima, Ohio, near the city’s North End. Its commercial zoning and multi-space configuration support a range of retail-oriented occupancy options, subject to applicable approvals.
The property is located at 1102-1104 N West Street in Lima, Ohio, near the city’s North End. Its commercial zoning and multi-space configuration support a range of retail-oriented occupancy options, subject to applicable approvals.
Key Highlights
- 3,836‑square‑foot strip mall configured for 5‑6 units
- Block and brick construction completed in 1960
- Commercial zoning
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Commercial property with multiple spaces, public utilities, and a central heating and cooling system.
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 strip mall configured for 5‑6 units; Block and brick construction completed in 1960; Commercial zoning
