Building Details

Year built 1996

Building materials Brick

Listing Agency: Binkley Real Estate, LLC b***@bright.net

Listed By: Kristen Archer Show Phone

Added: Apr 20 Changed: Sep 13 Last Checked: Oct 6 at 4:06PM

Report an Issue

MLS# 1045098

Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 5,300-square-foot brick office building, constructed in 1996, contains four separate office suites suited to professional business occupancy. The property includes forced-air heating powered by natural gas, central air conditioning, and a dedicated parking lot. Public sewer service supports the building, while the brick construction provides a durable exterior.

Located at 1541 Allentown Road in Lima, Ohio, the property sits on 0.51 acres and is positioned just minutes from downtown. The four-suite configuration offers a practical layout for multiple office users within one commercial asset.

Key Highlights

• 5,300‑square‑foot office building with four distinct suites
• Brick construction completed in 1996
• 0.51‑acre property at 1541 Allentown Road, Lima, OH 45805

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 (±1% cap)

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 (±1% cap)

NOI $89,361 @ 7.0% cap · market cap 10.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Ohioans Home Healthcare Home Health Care Service Clemans, Nelson & Associates Employment Agency Beltone Hearing Aid ... Hearing Aid Store D - Skoric Hearing ... Hearing Aid Store Instant Refund Tax ... Tax Preparation

Suggested Use

Top Pick Real Estate Agency Law Firm Kitchen & Bath Showroom Barber Shop HVAC Service Electrical Service

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

Lease Details

4

Office units

Location Intelligence

Trade Area within ½ mile

408

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Flex Industrial Building with Dock Doors

1162 Latham Ave, Lima, OH 45805

$399,000

5,000 SF

View details

Flex Space with Warehouse

414 N Main St, Lima, OH 45895

$169,900

7,600 SF

View details

Private Office Units with Storage

1007 N Center Street, Lima, OH 45801

$199,900

2,100 SF

View details

Flex Office and Warehouse Building

3945 Stewart Road, Lima, OH 45801

Contact for pricing

2,400 SF

View details

Flex Building with Office Flex Space

2025 E 4th St, Lima, OH 45805

Contact for pricing

50,088 SF

View details

Mixed-Use Property With Storefronts

222 S Elizabeth Street, Lima, OH 45801

$689,000

5,160 SF

View details

Medical Office Building with Receiving Door

1601 Allentown Road, Lima, OH 45805

$650,000

4,995 SF

View details

Mixed-Use Property with Apartments

608 W High Street, Lima, OH 45801

$925,000

6,379 SF

View details

Freestanding Auto Shop with Garage

710 N Cable Rd, Lima, OH 45805

$650,000

4,752 SF

View details

Five-Unit Mixed-Use Property

200 N Metcalf Street, Lima, OH 45801

$925,000

6,912 SF

View details

Bar & Pub with Parking Lot

501 N Cole Street, Lima, OH 45805

$179,900

5,320 SF

View details

Restaurant/Bar Opportunity in Lima, OH

1507 Harding Highway, Lima, OH 45804

$1,600,000

6,690 SF

View details

Frequently Asked Questions

What type of property is this?

Office units - Versatile professional office property with four distinct suites, natural light, on-site parking, and central air conditioning.

Where is this office units 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: 5,300‑square‑foot office building with four distinct suites; Brick construction completed in 1996; 0.51‑acre property at 1541 Allentown Road, Lima, OH 45805