Mixed-Use Property with
For Sale
$199,000
1250 N Cole Street, Lima, OH 45801
Commercial Sale, Lima, OH
Property Size2,600 SF
Price / SF$76.54
Days on Market96
Property Features for 1250 N Cole Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage
Standard status
Active
APN
36-2507-06-009.000 & 36-2507-06-008.000
Size
2,600 SF
Taxes and HOA fees
Tax Description
HOMEWOOD SUB DIVISION LOT 6565 & 1/2 VAC ALLEY & 6566 & 6567 & 1/2 VAC ALLEY FF 84.00
Legal Description
HOMEWOOD SUB DIVISION LOT 6565 & 1/2 VAC ALLEY & 6566 & 6567 & 1/2 VAC ALLEY FF 84.00
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Building materials
Frame
Roof type
Asphalt
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Added: Jul 8
Changed: Oct 2
Last Checked: Oct 11 at 1:06AM
MLS# 310777
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 B1-zoned mixed-use property contains approximately 2,600 square feet of commercial improvements. The 1250 portion is occupied by a restaurant under a month-to-month lease, while the 1270 portion is vacant. The property includes two bathrooms and a garage, with frame construction completed in 1970.
Building systems include forced-air heat, central air conditioning, an asphalt roof, public water, and public sewer. The 1270 space was previously used for automotive sales and detailing, while the 1250 space formerly operated as a pizza shop. Possession of the leased portion is subject to negotiation with an accepted offer.
Building systems include forced-air heat, central air conditioning, an asphalt roof, public water, and public sewer. The 1270 space was previously used for automotive sales and detailing, while the 1250 space formerly operated as a pizza shop. Possession of the leased portion is subject to negotiation with an accepted offer.
Key Highlights
- 2,600 square feet of mixed‑use commercial improvements
- B1 zoning with restaurant use at 1250
- 1250 portion leased month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,704
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$174,080
$174.1K
Cap Rate 7%
$124,343
$124.3K
Cap Rate 9%
$96,711
$96.7K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$15.2K $5.86/SF
− Vacancy
−$1.3K −$0.50/SF
EGI
$13.9K $5.36/SF
− OpEx
−$5.2K −$2.01/SF
NOI
$8.7K $3.35/SF
Area
Allen County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$174,080
Cap Rate 7%
$124,343
Cap Rate 9%
$96,711
Alternative Uses
Best Use
Specialty Retail
$504.4K
$441.4K – $588.5K
NOI $35,308 @ 7.0% cap · market cap 17.74%
Second Best
Mixed Use
$124.3K
$108.8K – $145.1K
NOI $8,704 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$626.2K
$548.0K – $730.6K
NOI $43,837 @ 7.0% cap · market cap 22.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Groceries 7%
Dining 5%
Circle K
Shops & Services
11,817 visits/mo
0.4 miles
Speedway
Shops & Services
7,480 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,973 visits/mo
0.4 miles
Save-A-Lot
Groceries
2,075 visits/mo
0.3 miles
Domino's Pizza
Dining
1,486 visits/mo
0.3 miles
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B1-zoned commercial property with an operating restaurant component and a separate vacant commercial space.
Where is this mixed-use property located?
The property is located at 1250 N Cole Street Lima, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,600 square feet of mixed‑use commercial improvements; B1 zoning with restaurant use at 1250; 1250 portion leased month to month
