Multi-Storefront Retail
For Sale
$224,900
1623 N Main Street, Lima, OH 45801
Commercial Sale, Lima, OH
Property Size4,399 SF
Price / SF$51.13
Days on Market49
Property Features for 1623 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Parking
7500
Parking features
Parking Lot
Window features
Display Window(s)
Interior features
Overhead Door
Standard status
Active
APN
37-1910-04-016.000
Size
4,399 SF
Taxes and HOA fees
Tax Annual Amount
3536
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Flooring type
Tile - Ceramic, Concrete
Building materials
Block
Listing Agency:
Hartsock Realty
(419) 222-0447
Listed By:
Jeff Dulmage · License #2015002150
(419) 302-3940
Added: Aug 19
Changed: Oct 2
Last Checked: Oct 6 at 1:06AM
MLS# 311256
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 4399-square-foot retail building in Lima offers a flexible commercial layout with potential for three separate storefront areas. Interior space includes offices, showrooms, work areas, bathrooms, concrete and ceramic tile flooring, forced-air heat, and central air conditioning. Block construction and an overhead door add practical utility for a range of commercial operations.
The property includes three rear garage areas, consisting of one attached space and two detached structures. A parking lot serves the building, while public water and public sewer support the site. The roof and mechanical systems are newer, and the building was constructed in 1965.
The property includes three rear garage areas, consisting of one attached space and two detached structures. A parking lot serves the building, while public water and public sewer support the site. The roof and mechanical systems are newer, and the building was constructed in 1965.
Key Highlights
- 4399‑square‑foot commercial building in Lima, OH
- Potential for three separate retail storefronts
- Includes offices, showrooms, workspaces, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,458
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,160
$349.2K
Cap Rate 7%
$249,400
$249.4K
Cap Rate 9%
$193,978
$194.0K
Market Conditions
NOI Build-Up for 4,399 SF
Gross rent
$25.9K $5.88/SF
− Vacancy
−$926 −$0.21/SF
EGI
$24.9K $5.67/SF
− OpEx
−$7.5K −$1.70/SF
NOI
$17.5K $3.97/SF
Area
Allen County, OH
Vacancy
3.58%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,160
Cap Rate 7%
$249,400
Cap Rate 9%
$193,978
Alternative Uses
Best Use
Retail
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$927.1K – $1.24M
NOI $74,169 @ 7.0% cap · market cap 32.98%
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
285
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 46%
Apparel 2%
McDonald's
Dining
18,053 visits/mo
0.2 miles
Ollie's Bargain Outlet
Shops & Services
13,802 visits/mo
0.2 miles
Circle K
Shops & Services
10,020 visits/mo
0.3 miles
Burger King
Dining
9,624 visits/mo
0.3 miles
Taco Bell
Dining
8,096 visits/mo
0.2 miles
Demographics for 45801, OH
22,819
Population
9,351
Households
2.4
Avg Household Size
38
Median Age
12%
College-Educated
90%
High-School Grad
45.7 sq mi
ZIP Area
499
Density / Sq Mi
$47,442
Median Household Income
$33,224
Median Earnings
$865
Median Rent
$111,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned building with office, showroom, and workspace areas plus rear garage facilities.
Where is this storefront property located?
The property is located at 1623 N Main Street Lima, OH.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 4399‑square‑foot commercial building in Lima, OH; Potential for three separate retail storefronts; Includes offices, showrooms, workspaces, and bathrooms
