Medical Office Building with Receiving
For Sale
$650,000
1601 Allentown Road, Lima, OH 45805
Commercial Sale, Lima, OH
Property Size4,995 SF
Price / SF$130.13
Days on Market232
Property Features for 1601 Allentown Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
B1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Off Street
Security features
Security
Standard status
Active
APN
36-2612-20-001.000
Size
4,995 SF
Taxes and HOA fees
Tax Description
CARSON DALZELLS SUB DIVISION LOT 4 N END-E SIDE FF 88.37
Legal Description
CARSON DALZELLS SUB DIVISION LOT 4 N END-E SIDE FF 88.37
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Block
Roof type
Metal
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Added: Feb 16
Changed: Oct 2
Last Checked: Oct 6 at 1:06AM
MLS# 309452
Copyright © 2026 West Central Association of Realtors. 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 4,995-square-foot medical office property was built in 2000 and occupies a block-corner position at Allentown Road and Nixon Avenue in Lima. The building is constructed with block materials and includes carpet and vinyl flooring, two bathrooms, central air conditioning, and natural-gas forced-air heat. A rear overhead door provides receiving access for deliveries and product handling.
The property includes off-street parking and is served by public water and public sewer. A metal roof completes the structure. Zoned B1, the building offers an existing medical-office configuration with durable commercial construction and functional back-of-house access.
The property includes off-street parking and is served by public water and public sewer. A metal roof completes the structure. Zoned B1, the building offers an existing medical-office configuration with durable commercial construction and functional back-of-house access.
Key Highlights
- 4,995 square feet built in 2000
- B1 zoning
- Rear overhead door for receiving access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,329
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,126,580
$1.1M
Cap Rate 7%
$804,700
$804.7K
Cap Rate 9%
$625,878
$625.9K
Market Conditions
NOI Build-Up for 4,995 SF
Gross rent
$104.9K $21.00/SF
− Vacancy
−$11.0K −$2.21/SF
EGI
$93.9K $18.80/SF
− OpEx
−$37.6K −$7.52/SF
NOI
$56.3K $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%
$1,126,580
Cap Rate 7%
$804,700
Cap Rate 9%
$625,878
Alternative Uses
Best Use
Office B
$904.2K
$791.2K – $1.05M
NOI $63,297 @ 7.0% cap · market cap 9.74%
Second Best
Healthcare Medical
$804.7K
$704.1K – $938.8K
NOI $56,329 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,218 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
425
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - B1-zoned medical office with off-street parking and a rear receiving door.
Where is this medical office space located?
The property is located at 1601 Allentown Road Lima, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,995 square feet built in 2000; B1 zoning; Rear overhead door for receiving access
