Medical Office with Private
For Sale
$169,000
1517 Allentown Road, Lima, OH 45805
Reception space, private rooms and an upper-level area support a flexible office layout.
Property Size1,246 SF
Price / SF$135.63
Days on Market15
Property Features for 1517 Allentown Road
General Information
Standard status
Active
Size
1,246 SF
Total Parking Spaces
15
Additional Details
Condition
Move-in Ready
Taxes and HOA fees
Annual Taxes
$1,886
Amenities
true
2
Public
14374.8
15
0.33
Parking Lot
1246
1
Building Details
Building Size
1,246 SF
Year Built
1915
Stories
2
Listing Agency:
Cowan, Realtors
Listed By:
Heather Gaus
(419) 236-4391
Source:
Koehlerrealty
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 28 at 12:42PM
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 Cowan, Realtors
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Investment Insights
Based on property information with market context.
This 1,246-square-foot medical office at 1517 Allentown Road in Lima was built in 1915. Its layout includes a reception area with service windows and built-in desk space, several private rooms, a restroom and an upper-level area suited to storage, office work or a break room. Flooring and paint have been updated. A dedicated parking lot provides 15 spaces.
Key Highlights
- 1,246 square feet of medical office space
- 15‑space dedicated parking lot
- Reception area features service windows and built‑in desk space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,051
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,020
$281.0K
Cap Rate 7%
$200,729
$200.7K
Cap Rate 9%
$156,122
$156.1K
Market Conditions
NOI Build-Up for 1,246 SF
Gross rent
$26.2K $21.00/SF
− Vacancy
−$2.7K −$2.21/SF
EGI
$23.4K $18.80/SF
− OpEx
−$9.4K −$7.52/SF
NOI
$14.1K $11.28/SF
Area
Allen County, OH
Vacancy
10.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,020
Cap Rate 7%
$200,729
Cap Rate 9%
$156,122
Alternative Uses
Best Use
Office B
$225.6K
$197.4K – $263.2K
NOI $15,789 @ 7.0% cap · market cap 9.34%
Second Best
Healthcare Medical
$200.7K
$175.6K – $234.2K
NOI $14,051 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$300.1K
$262.6K – $350.1K
NOI $21,008 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception space, private rooms and an upper-level area support a flexible office layout.
Where is this medical office space located?
The property is located at 1517 Allentown Road Lima, OH.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,246 square feet of medical office space; 15‑space dedicated parking lot; Reception area features service windows and built‑in desk space
