Building Details

Building Size 1,200 SF

Year Built 1986

Buildings 2

Stories 1

Listing Agency: Show Phone

Listed By: Reed Hubbuch

Source: Koehlerrealty

Added: Oct 26 Changed: Oct 29 Last Checked: Oct 28 at 4:16PM

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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 Reed Hubbuch

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Investment Insights

Based on property information with market context.

This restaurant-classified property in American Township includes a 1,056-square-foot main building and a separate 1,200-square-foot building. The secondary structure has garage doors at both ends. The property was built in 1986 and occupies a 0.39-acre lot on N Cole Street in Lima.

A tenant is currently in place. The site is near the Elida Road and Robb Avenue retail corridors, with reported traffic exceeding 10,000 vehicles per day.

Key Highlights

• Two buildings: 1,056 square feet and 1,200 square feet
• 0.39‑acre parcel in American Township
• Secondary building has garage doors at both ends

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,296

Cap Rate

5.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$325,920 $325.9K

Cap Rate 7%

$232,800 $232.8K

Cap Rate 9%

$181,067 $181.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$22.8K $18.96/SF

− Vacancy

−$1.0K −$0.85/SF

EGI

$21.7K $18.11/SF

− OpEx

−$5.4K −$4.53/SF

NOI

$16.3K $13.58/SF

Area

Allen County, OH

Vacancy

4.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$325,920

Cap Rate 7%

$232,800

Cap Rate 9%

$181,067

Alternative Uses

Best Use

Specialty Retail

$232.8K

$203.7K – $271.6K (±1% cap)

NOI $16,296 @ 7.0% cap · market cap 5.84%

Second Best

Retail

$68.0K

$59.5K – $79.4K (±1% cap)

NOI $4,762 @ 7.0% cap · market cap 1.71%

Theoretical Best

Office A

$289.0K

$252.9K – $337.2K (±1% cap)

NOI $20,233 @ 7.0% cap · market cap 7.25%

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

Taco Movil Los ... Restaurant

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Law Firm Hair Salon

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

237

Businesses Nearby

29k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 88% Groceries 7% Dining 5%

Circle K Shops & Services

11,817 visits/mo 0.2 miles

Speedway Shops & Services

7,480 visits/mo 0.2 miles

Family Dollar Shops & Services

4,973 visits/mo 0.3 miles

Save-A-Lot Groceries

2,075 visits/mo 0.2 miles

Domino's Pizza Dining

1,486 visits/mo 0.2 miles

Demographics for 45805, OH

22,740

Population

10,560

Households

2.2

Avg Household Size

39

Median Age

24%

College-Educated

94%

High-School Grad

14.6 sq mi

ZIP Area

1,558

Density / Sq Mi

$65,954

Median Household Income

$37,126

Median Earnings

$944

Median Rent

$153,700

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?

Conventional restaurant - A tenant currently occupies the site, which includes two buildings on a 0.39-acre parcel.

Where is this conventional restaurant located?

The property is located at 1355 N Cole Street Lima, OH.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: Two buildings: 1,056 square feet and 1,200 square feet; 0.39‑acre parcel in American Township; Secondary building has garage doors at both ends