4-Suite Storefront
For Sale
$225,000
1151 Shawnee Road, Lima, OH 45805
Commercial Sale, Lima, OH
Property Size4,733 SF
Price / SF$47.54
Days on Market8
Property Features for 1151 Shawnee Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B1
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2
Parking
20
Parking features
Off Street
Standard status
Active
APN
46-0308-03-020.000
Size
4,733 SF
Taxes and HOA fees
Tax Description
BERRYMAN PLACE LOT 44 & MAPLE HILL SUBDIVISION LOT 18450 & PT NE1/4 RTS 06-04-03
Tax Annual Amount
2439
Legal Description
BERRYMAN PLACE LOT 44 & MAPLE HILL SUBDIVISION LOT 18450 & PT NE1/4 RTS 06-04-03
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Building materials
Frame
Roof type
Rubber, Asphalt
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 6 at 4:06AM
MLS# 311781
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 4,733-square-foot storefront property contains four suites, three of which are leased. Built in 1935, the building has received updates that include a replacement flat roof and fresh paint. Heating is provided by natural gas forced air, with central air conditioning. The property is zoned B1 and has public water and sewer service.
Off-street parking accommodates approximately 20 vehicles. An additional 0.4-acre yard could be developed or used to add parking.
Off-street parking accommodates approximately 20 vehicles. An additional 0.4-acre yard could be developed or used to add parking.
Key Highlights
- 4,733‑square‑foot storefront with four suites; three are currently leased
- Approximately 20 off‑street parking spaces
- Additional 0.4‑acre yard with potential for development or added 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
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
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
NOI $79,801 @ 7.0% cap · market cap 35.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
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
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
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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 an included yard provides space for possible expansion of the parking area.
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: 4,733‑square‑foot storefront with four suites; three are currently leased; Approximately 20 off‑street parking spaces; Additional 0.4‑acre yard with potential for development or added parking
