Heavy Industrial Flex
For Sale
Contact for pricing
1814 E 4th St, Lima, OH 45804
Two-building industrial facility with clear-span warehouse space, multiple drive-in doors, and 14–14.5' clear heights.
Property Size6,150 SF
Lot Size4.46 Acres
Price / SF$113.01
Days on Market50
Property Features for 1814 E 4th St
General Information
Standard status
Active
Size
6,150 SF
Lot size
4.46 Acres
Property subtype
INDUSTRIAL
Zoning
I-2
Warehouse & Industrial
Clear Height
14 ft
Heavy Power
Yes
Additional Details
Highway Access
Yes
Listing Agency:
Industrial Property Brokers
Listed By:
Timothy Echemann
(937) 492-4423
Source:
Moodyscre
Added: Jul 15
Changed: Aug 9
Last Checked: Sep 2 at 12:29AM
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 Industrial Property Brokers
Investment Insights
Based on property information with market context.
This versatile industrial property features two functional buildings totaling 6,150 SF, with office and warehouse space supported by clear-span construction. The warehouse area offers 14'–14.5' clear heights and is equipped with floor drains and multiple drive-in doors to support efficient loading and operations. Additional improvements include boiler heat, 480-volt 225-amp three-phase power, and a 2-ton crane.
The property also includes a 30' x 30' auxiliary building and ample outdoor storage. Zoned I-2 (Heavy Industrial), it is suited for manufacturing, fabrication, warehousing, and other industrial operations.
Additional power and industrial features help support a broad range of heavy-duty uses, while the site’s configuration includes the main warehouse buildings plus the auxiliary structure for added flexibility in day-to-day workflow.
The property also includes a 30' x 30' auxiliary building and ample outdoor storage. Zoned I-2 (Heavy Industrial), it is suited for manufacturing, fabrication, warehousing, and other industrial operations.
Additional power and industrial features help support a broad range of heavy-duty uses, while the site’s configuration includes the main warehouse buildings plus the auxiliary structure for added flexibility in day-to-day workflow.
Key Highlights
- Two‑building industrial facility totaling 6,150 SF on 4.46 acres in Lima, OH
- Zoned I‑2 (Heavy Industrial) with flexibility for manufacturing, fabrication, warehousing, and other industrial operations
- Clear‑span warehouse space with 14'–14.5' clear heights and floor drains for industrial use
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
$35,319
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
5.08%
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%
$706,380
$706.4K
Cap Rate 7%
$504,557
$504.6K
Cap Rate 9%
$392,433
$392.4K
Market Conditions
NOI Build-Up for 6,150 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
$58.3K $9.48/SF
− Vacancy
−$4.0K −$0.64/SF
EGI
$54.3K $8.84/SF
− OpEx
−$19.0K −$3.09/SF
NOI
$35.3K $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%
$706,380
Cap Rate 7%
$504,557
Cap Rate 9%
$392,433
Alternative Uses
Best Use
Flex RnD
$504.6K
$441.5K – $588.7K
NOI $35,319 @ 7.0% cap · market cap 5.08%
Second Best
Warehouse
$438.4K
$383.6K – $511.5K
NOI $30,687 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,692 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45804, OH
14,573
Population
7,108
Households
2.1
Avg Household Size
39
Median Age
11%
College-Educated
87%
High-School Grad
21.2 sq mi
ZIP Area
687
Density / Sq Mi
$42,594
Median Household Income
$33,438
Median Earnings
$888
Median Rent
$96,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building industrial facility with clear-span warehouse space, multiple drive-in doors, and 14–14.5' clear heights.
Where is this flex space located?
The property is located at 1814 E 4th St Lima, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑building industrial facility totaling 6,150 SF on 4.46 acres in Lima, OH; Zoned I‑2 (Heavy Industrial) with flexibility for manufacturing, fabrication, warehousing, and other industrial operations; Clear‑span warehouse space with 14'–14.5' clear heights and floor drains for industrial use
