Three-Story Retail
For Sale
Contact for pricing
126 West High Street, Lima, OH 45801
Three-story structure offering retail space on the first level, with business and building included in the sale.
Property Size11,700 SF
Price / SF$55.56
Days on Market60
Property Features for 126 West High Street
General Information
Standard status
Active
Size
11,700 SF
Property subtype
Retail
Zoning
Business
Investment Type
Owner/User
Building Details
Year Built
1920
Units
8
Listing Agency:
CCR , Realtors
(419) 222-0555
Listed By:
Joseph Guagenti · License #OH 423909
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 12 at 10:14AM
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
Investment Insights
Based on property information with market context.
This three-story commercial building includes retail space on the first level. The offering is structured as the business and the building being included in the sale, providing a turnkey package for a new owner/operator looking to take over an existing setup. Showings are available during business hours, with details provided by the listing agent.
Located at 126 West High Street in Lima, Ohio (45801), the property’s first-floor retail component is supported by the building’s overall three-story configuration. Prospective buyers should coordinate directly with the listing agent to confirm layout specifics and any operational details relevant to the business currently on site.
For buyers seeking an owner-occupied retail scenario or an acquisition that pairs the commercial real estate with the operating business, the first-level retail space within a three-story structure can support a straightforward transition at the property. Because the listing notes that the business is included, interested parties may view this as a practical option when evaluating both real estate ownership and continuity of operations. Contact the listing agent to discuss the business details and schedule a showing during business hours.
Located at 126 West High Street in Lima, Ohio (45801), the property’s first-floor retail component is supported by the building’s overall three-story configuration. Prospective buyers should coordinate directly with the listing agent to confirm layout specifics and any operational details relevant to the business currently on site.
For buyers seeking an owner-occupied retail scenario or an acquisition that pairs the commercial real estate with the operating business, the first-level retail space within a three-story structure can support a straightforward transition at the property. Because the listing notes that the business is included, interested parties may view this as a practical option when evaluating both real estate ownership and continuity of operations. Contact the listing agent to discuss the business details and schedule a showing during business hours.
Key Highlights
- Year built: 1920
- 3‑story building with retail space on the first level
- Business and the building are included in the 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
7.14%
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 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,268 @ 7.0% cap · market cap 30.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-story structure offering retail space on the first level, with business and building included in the sale.
Where is this storefront property located?
The property is located at 126 West High Street Lima, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Year built: 1920; 3‑story building with retail space on the first level; Business and the building are included in the sale
