Four-Suite Brick Office
For Sale
$880,000
1541 Allentown Road, Lima, OH 45805
Brick construction, natural light, and downtown proximity create a practical setting for office users.
Property Size5,300 SF
Price / SF$166.04
Days on Market100
Property Features for 1541 Allentown Road
General Information
Standard status
Active
Size
5,300 SF
Zoning
Commercial
Additional Details
Office Units
4
Amenities
natural light
Building Details
Year Built
1996
Buildings
1
Building Size
5,300 SF
Construction
brick
Listed By:
Josh Ebbing
(419) 852-8392
Source:
Redoakrealtyohio.idxbroker
Added: Jul 9
Changed: Sep 30
Last Checked: Oct 16 at 5:50AM
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 Josh Ebbing
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Investment Insights
Based on property information with market context.
Built in 1996, this brick office property at 1541 Allentown Road in Lima, Ohio, contains approximately 5,300 square feet arranged across four separate office suites. The configuration provides distinct spaces within one commercial building, supporting occupancy by multiple office users.
Natural light is a notable interior feature, while the property’s location minutes from downtown provides convenient access to the central business area and nearby amenities.
Natural light is a notable interior feature, while the property’s location minutes from downtown provides convenient access to the central business area and nearby amenities.
Key Highlights
- Approximately 5,300 square feet of office space
- Four distinct office suites within one building
- Brick commercial construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,162
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,343,240
$1.3M
Cap Rate 7%
$959,457
$959.5K
Cap Rate 9%
$746,244
$746.2K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$101.8K $19.20/SF
− Vacancy
−$12.2K −$2.30/SF
EGI
$89.5K $16.90/SF
− OpEx
−$22.4K −$4.22/SF
NOI
$67.2K $12.67/SF
Area
Allen County, OH
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,343,240
Cap Rate 7%
$959,457
Cap Rate 9%
$746,244
Alternative Uses
Best Use
Office B
$959.5K
$839.5K – $1.12M
NOI $67,162 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,361 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Brick construction, natural light, and downtown proximity create a practical setting for office users.
Where is this office building located?
The property is located at 1541 Allentown Road Lima, OH.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Approximately 5,300 square feet of office space; Four distinct office suites within one building; Brick commercial construction
