Building Details

Building Size 4,733 SF

Year Built 1935

Stories 2

Tenancy Multi

Listing Agency: CCR Realtors

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

Source: Koehlerrealty

Added: Oct 26 Changed: Oct 28 Last Checked: Oct 31 at 3:24AM

Report an Issue

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.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4,733-square-foot storefront property contains four income-producing suites, with three currently leased. Recent improvements include a new flat roof and fresh paint. The property also has an approximately 0.4-acre yard that could be developed or used for additional parking.

Approximately 20 off-street parking spaces are provided. Current operating income includes power, gas, water, and sewer.

Key Highlights

• Four suites, with three currently leased
• 4,733‑square‑foot storefront property
• Approximately 0.4‑acre yard for potential development or additional parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,784

Cap Rate

8.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$375,680 $375.7K

Cap Rate 7%

$268,343 $268.3K

Cap Rate 9%

$208,711 $208.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,733 SF

Gross rent

$27.8K $5.88/SF

− Vacancy

−$996 −$0.21/SF

EGI

$26.8K $5.67/SF

− OpEx

−$8.1K −$1.70/SF

NOI

$18.8K $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%

$375,680

Cap Rate 7%

$268,343

Cap Rate 9%

$208,711

Alternative Uses

Best Use

Retail

$268.3K

$234.8K – $313.1K (±1% cap)

NOI $18,784 @ 7.0% cap · market cap 8.35%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.14M

$997.5K – $1.33M (±1% cap)

NOI $79,801 @ 7.0% cap · market cap 35.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mai thi Beauty Hair Salon Butterfly Love Clothing Store Perfectly Browed Beauty Hair Salon Merritt Real Estate ... Real Estate Agency Level Up Shawnee Specialty Food Shop

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Restaurant Building Supply Nail Salon

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

Lease Details

75%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

219

Businesses Nearby

4k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 93% Home Improvements & Furnishings 7%

Huntington Bank Shops & Services

3,964 visits/mo 0.4 miles

Ferguson Home Improvements & Furnishings

304 visits/mo 0.4 miles

Demographics for 45805, OH

22,740

Population

10,560

Households

2.2

Avg Household Size

39

Median Age

24%

College-Educated

94%

High-School Grad

14.6 sq mi

ZIP Area

1,558

Density / Sq Mi

$65,954

Median Household Income

$37,126

Median Earnings

$944

Median Rent

$153,700

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

Similar For Sale Nearby

See more

Multi-Storefront Retail Building

1623 N Main Street, Lima, OH 45801

$224,900

4,399 SF

View details

Multi-Unit Retail Building

1102-1104 N West Street, Lima, OH 45801

$259,000

3,836 SF

View details

Corner Bar and Nightclub Property

337 N Elizabeth St, Lima, OH 45801

$350,000

4,263 SF

View details

Medical Office Building with Receiving Door

1601 Allentown Road, Lima, OH 45805

$650,000

4,995 SF

View details

Mixed-Use Property With Storefronts

222 S Elizabeth Street, Lima, OH 45801

$689,000

5,160 SF

View details

Retail Space with New Roof

2470 N Eastown Road, Lima, OH 45805

$249,000

2,030 SF

View details

Two-Story Storefront Building

128 W High Street, Lima, OH 45801

$275,000

2,200 SF

View details

Leased Storefront Building

502 W High Street, Lima, OH 45801

$285,000

11,624 SF

View details

Restaurant Property with Secondary Building

1355 N Cole Street, Lima, OH 45805

$279,000

1,200 SF

View details

Automotive Property with Overhead Door

3600-3602 Elida Road, Lima, OH 45807

$795,000

9,975 SF

View details

Three-Story Downtown Retail Building

126 W High Street, Lima, OH 45801

$625,000

11,700 SF

View details

Established Branded Retail Storefront

927 North Cable Road, Lima, OH 45805

Contact for pricing

3,500 SF

View details

Similar Off Market Nearby

• Mr.Florist Flowers — Shawnee Township, OH 45805

Frequently Asked Questions

What type of property is this?

Storefront property - Three suites are leased, and the property includes off-street parking and a separate yard.

Where is this storefront property located?

The property is located at 1151 Shawnee Road Lima, OH.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Four suites, with three currently leased; 4,733‑square‑foot storefront property; Approximately 0.4‑acre yard for potential development or additional parking