Three-Story Storefront
For Sale
$625,000
126 W High Street, Lima, OH 45801
COMMERCIAL - Lima, OH
Property Size11,700 SF
Price / SF$53.42
Days on Market159
Property Features for 126 W High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
On Street, Parking Lot
Security features
Security System
Standard status
Active
APN
37-3106-21-013.000
Size
11,700 SF
Taxes and HOA fees
Tax Description
PLAT OF THE TOWN OF LIMA LOT 145 E PT & 146 E PT FF 51.86
Legal Description
PLAT OF THE TOWN OF LIMA LOT 145 E PT & 146 E PT FF 51.86
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Flooring type
Wood
Building materials
Brick
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Maria Sanko
(419) 303-8495
Added: Mar 6
Changed: Aug 11
Last Checked: Aug 12 at 1:06AM
MLS# 309623
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 three-story commercial building provides retail space on the first level, with the business and real estate included in the sale. The 11,700-square-foot property was built in 1920 and features brick construction, wood flooring, and central air conditioning.
Located at 126 W High Street in Lima, Ohio, the property offers both on-street parking and a parking lot. Public water and public sewer serve the building, which is designated for commercial use.
Located at 126 W High Street in Lima, Ohio, the property offers both on-street parking and a parking lot. Public water and public sewer serve the building, which is designated for commercial use.
Key Highlights
- 11,700‑square‑foot commercial building
- Three‑story structure with first‑level retail space
- Business and building included in sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,433
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$928,660
$928.7K
Cap Rate 7%
$663,329
$663.3K
Cap Rate 9%
$515,922
$515.9K
Market Conditions
NOI Build-Up for 11,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.8K $5.88/SF
− Vacancy
−$2.5K −$0.21/SF
EGI
$66.3K $5.67/SF
− OpEx
−$19.9K −$1.70/SF
NOI
$46.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$928,660
Cap Rate 7%
$663,329
Cap Rate 9%
$515,922
Alternative Uses
Best Use
Retail
$663.3K
$580.4K – $773.9K
NOI $46,433 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,268 @ 7.0% cap · market cap 31.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 39%
Home Improvements & Furnishings 6%
Hotels & Casinos 5%
McDonald's
Dining
19,448 visits/mo
0.3 miles
Huntington Bank
Shops & Services
6,813 visits/mo
0.4 miles
Family Dollar
Shops & Services
4,752 visits/mo
0.3 miles
Fifth Third Bank & ATM
Shops & Services
2,959 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
2,696 visits/mo
0.4 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
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?
Storefront property - Brick commercial building with ground-floor retail space and on-site parking.
Where is this storefront property located?
The property is located at 126 W High Street Lima, OH.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 11,700‑square‑foot commercial building; Three‑story structure with first‑level retail space; Business and building included in sale
