Three-Story Downtown Retail
For Sale
$625,000
126 W High Street, Lima, OH 45801
Commercial Sale, Lima, OH
Property Size11,700 SF
Price / SF$53.42
Days on Market205
Property Features for 126 W High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Parking Lot, On Street
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 · License #2006007344
(419) 303-8495
Added: Mar 6
Changed: Sep 13
Last Checked: Sep 27 at 4:06AM
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 retail property contains 11,700 square feet, with retail space occupying the first level. The building and operating business are included in the sale. Built in 1920, the structure features brick construction, wood flooring, and central air conditioning.
Located at 126 W High Street in Lima, Ohio, the property has access to both a dedicated parking lot and on-street parking. Public water and public sewer serve the building, and the site is zoned Commercial.
Located at 126 W High Street in Lima, Ohio, the property has access to both a dedicated parking lot and on-street parking. Public water and public sewer serve the building, and the site is zoned Commercial.
Key Highlights
- 11,700‑square‑foot, three‑story building with first‑floor retail space
- Business and building included in the sale
- Brick construction with wood flooring
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
44k
Monthly Visits Nearby
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Brick commercial property with retail space, public utilities, and parking options in Lima.
Where is this retail space 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, three‑story building with first‑floor retail space; Business and building included in the sale; Brick construction with wood flooring
