Versatile Building on High-Traffic
For Sale
$350,000
Pending
1790 N Eastown Rd, Lima, OH 45807
Large building with office and warehouse space on an acre.
Property Size4,000 SF
Lot Size0.99 Acres
Days on Market342
Property Features for 1790 N Eastown Rd
General Information
Standard status
Pending
Size
4,000 SF
Lot size
0.99 Acres
Listing Agency:
Berkshire Hathaway Professional Realty
(419) 999-2027
Listed By:
Dalton Brenner
(419) 999-2027
Source:
Exprealty
Added: Sep 5, 2025
Changed: Jul 10
Last Checked: Aug 11 at 10:31AM
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 Berkshire Hathaway Professional Realty
Investment Insights
Based on property information with market context.
This large building, situated on almost an acre of land along a high-traffic road, offers over 4,000 square feet of space. The property includes office space, a half bathroom, and a substantial warehouse area. Features include fresh paint, three overhead doors, and a loading dock. A fenced-in area is located at the back of the property. The property is suitable for various business uses.
Key Highlights
- High‑traffic location on a major road.
- Large building with over 4,000 square feet.
- Warehouse space with 3 overhead doors and loading dock.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,972
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$459,440
$459.4K
Cap Rate 7%
$328,171
$328.2K
Cap Rate 9%
$255,244
$255.2K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.9K $9.48/SF
− Vacancy
−$2.6K −$0.64/SF
EGI
$35.3K $8.84/SF
− OpEx
−$12.4K −$3.09/SF
NOI
$23.0K $5.74/SF
Area
Allen County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$459,440
Cap Rate 7%
$328,171
Cap Rate 9%
$255,244
Alternative Uses
Best Use
Flex RnD
$328.2K
$287.2K – $382.9K
NOI $22,972 @ 7.0% cap · market cap 6.56%
Second Best
Warehouse
$285.1K
$249.5K – $332.7K
NOI $19,959 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$963.5K
$843.0K – $1.12M
NOI $67,442 @ 7.0% cap · market cap 19.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45807, OH
11,856
Population
5,109
Households
2.3
Avg Household Size
45
Median Age
22%
College-Educated
96%
High-School Grad
75.4 sq mi
ZIP Area
157
Density / Sq Mi
$74,387
Median Household Income
$41,645
Median Earnings
$967
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Large building with office and warehouse space on an acre.
Where is this flex space located?
The property is located at 1790 N Eastown Rd Lima, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High‑traffic location on a major road.; Large building with over 4,000 square feet.; Warehouse space with 3 overhead doors and loading dock.
