Building Details

Building Size 2,200 SF

Year Built 1920

Buildings 1

Stories 2

Listing Agency: CCR Realtors

Listed By: Joseph Guagenti

Source: Binkleyre

Added: Oct 30 Last Checked: Oct 30 at 3:37PM

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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

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Investment Insights

Based on property information with market context.

This two-story storefront building contains 2,200 square feet of commercial space and is currently unoccupied. The property recently underwent renovation work. An unfinished basement adds space beyond the reported building area; its size is not included in the 2,200 square feet.

Key Highlights

• 2,200‑square‑foot commercial structure arranged across two stories
• Currently unoccupied
• Unfinished basement space is excluded from the 2,200‑square‑foot figure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,731

Cap Rate

3.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$174,620 $174.6K

Cap Rate 7%

$124,729 $124.7K

Cap Rate 9%

$97,011 $97.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$12.9K $5.88/SF

− Vacancy

−$463 −$0.21/SF

EGI

$12.5K $5.67/SF

− OpEx

−$3.7K −$1.70/SF

NOI

$8.7K $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%

$174,620

Cap Rate 7%

$124,729

Cap Rate 9%

$97,011

Alternative Uses

Best Use

Retail

$124.7K

$109.1K – $145.5K (±1% cap)

NOI $8,731 @ 7.0% cap · market cap 3.17%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$529.9K

$463.7K – $618.2K (±1% cap)

NOI $37,093 @ 7.0% cap · market cap 13.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Legacy Property Solutions Construction Company Amazon Hub Counter ... Courier Service

Suggested Use

Top Pick Real Estate Agency Restaurant Big Box & Wholesale Store Dental Office Building Supply Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,059

Businesses Nearby

35k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 56% Shops & Services 22% Home Improvements & Furnishings 7% Hotels & Casinos 6%

McDonald's Dining

19,448 visits/mo 0.5 miles

Family Dollar Shops & Services

4,752 visits/mo 0.3 miles

Fifth Third Bank & ATM Shops & Services

2,959 visits/mo 0.2 miles

Sherwin-Williams Paint Store Home Improvements & Furnishings

2,541 visits/mo 0.5 miles

Wingate by Wyndham Lima Downtown Hotels & Casinos

2,181 visits/mo 0.2 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Currently vacant, with unfinished basement space in addition to the commercial interior.

Where is this storefront property located?

The property is located at 128 W High Street Lima, OH.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 2,200‑square‑foot commercial structure arranged across two stories; Currently unoccupied; Unfinished basement space is excluded from the 2,200‑square‑foot figure