For Sale
$1,600,000
1507 Harding Hwy, Lima, OH 45804
Well-maintained 6,690 SF restaurant/bar on 1.18 acres.
Property Size6,690 SF
Lot Size1.18 Acres
Price / SF$239.16
Days on Market166
Property Features for 1507 Harding Hwy
General Information
Standard status
Active
Property type
Bars & Pubs, Restaurants, Commercial real estate
Size
6,690 SF
Lot size
1.18 Acres
Building Details
Year Built
2000
Listing Agency:
(419) 236-1809
Listed By:
Linda
(419) 236-1809
Added: Feb 24
Changed: Jun 22
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
$90,851
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
5.68%
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%
$1,817,020
$1.8M
Cap Rate 7%
$1,297,871
$1.3M
Cap Rate 9%
$1,009,456
$1.0M
Market Conditions
NOI Build-Up for 6,690 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
$126.8K $18.96/SF
− Vacancy
−$5.7K −$0.85/SF
EGI
$121.1K $18.11/SF
− OpEx
−$30.3K −$4.53/SF
NOI
$90.9K $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 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%
$1,817,020
Cap Rate 7%
$1,297,871
Cap Rate 9%
$1,009,456
Alternative Uses
Best Use
Specialty Retail
$1.30M
$1.14M – $1.51M
NOI $90,851 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,797 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
397k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Superstores 20%
Shops & Services 15%
Hotels & Casinos 3%
Sam's Club
Superstores
81,224 visits/mo
0.5 miles
Speedway
Shops & Services
35,504 visits/mo
0.3 miles
McDonald's
Dining
34,206 visits/mo
0.4 miles
Texas Roadhouse
Dining
33,877 visits/mo
0.4 miles
Olive Garden
Dining
18,898 visits/mo
0.4 miles
Demographics for 45804, OH
14,573
Population
7,108
Households
2.1
Avg Household Size
39
Median Age
11%
College-Educated
87%
High-School Grad
21.2 sq mi
ZIP Area
687
Density / Sq Mi
$42,594
Median Household Income
$33,438
Median Earnings
$888
Median Rent
$96,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Sam's Club Cafe — 1150 Greely Chapel Rd, Lima, OH 45804
- Wings and Rings — 1939 Roschman Ave, Lima, OH 45804
- 777 Bar — 1008 Bellefontaine Ave, Lima, OH 45804
- Olive Garden Italian Restaurant — 1936 Roschman Ave, Lima, OH 45804
Frequently Asked Questions
What type of property is this?
Bar & Pub - Well-maintained 6,690 SF restaurant/bar on 1.18 acres.
Where is this bar & pub located?
The property is located at 1507 Harding Hwy Lima, OH.
What is the asking price?
The asking price for this property is $1,600,000.
