Building Details

Year Built 1960

Units 6

Listing Agency: CCR , Realtors

Listed By: Joseph Guagenti · License #OH 423909 Show Phone

Source: Crexi

Added: Apr 11 Changed: Oct 25 Last Checked: Oct 24 at 2:33PM

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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

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Investment Insights

Based on property information with market context.

This retail shopping center features five available units and includes plenty of off-street parking for customer convenience.

The property is located on Lima’s north end, offering an investment-oriented retail configuration within a small shopping center format.

With multiple storefront units in place, the center provides a straightforward setup for prospective owners and tenants considering a multi-space retail arrangement.

Key Highlights

• Retail shopping center on Lima’s North end
• Comprises 5 units
• Includes plenty of off‑street parking

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

Is this asking price fair?

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 (±1% cap)

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 (±1% cap)

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

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Mack Productions Gym & Fitness Center Silver Shears Barbers Barber Shop A lot of Love Child ... Daycare Center HER lash lounge Hair Salon The Hair Loft by ... Hair Salon

Suggested Use

Top Pick Real Estate Agency Dental Office Parking Lot & Garage Law Firm Kitchen & Bath Showroom Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

301

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 45804, OH

14,573

Population

7,108

Households

2.1

Avg Household Size

39

Median Age

11%

College-Educated

87%

High-School Grad

21.2 sq mi

ZIP Area

687

Density / Sq Mi

$42,594

Median Household Income

$33,438

Median Earnings

$888

Median Rent

$96,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Multi-unit retail shopping center offering five units with off-street parking.

Where is this shopping center located?

The property is located at 1102 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: Retail shopping center on Lima’s North end; Comprises 5 units; Includes plenty of off‑street parking