Flex Building with Office Flex
For Sale
Contact for pricing
2025 E 4th St, Lima, OH 45805
Includes 23,000 SF of office/flex space scheduled for availability in June 2025 with strong daily street visibility.
Property Size50,088 SF
Price / SF$56.90
Days on Market101
Property Features for 2025 E 4th St
General Information
Standard status
Active
Size
50,088 SF
Class
B
Property subtype
Office, Industrial
Zoning
Industrial
Occupancy
60%
Lease Type
Modified Gross
Net Operating Income
$101,544
Site & Location
Traffic Count
13,500 vehicles/day
Highway Access
Yes
Building Details
Year Built
1967
Tenancy
Multi
Listing Agency:
Dye Real Estate and Land Company
Listed By:
Garrett Gatton · License #2019005469
Source:
Crexi
Added: Jun 2
Changed: Aug 25
Last Checked: Sep 10 at 7:29AM
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 Dye Real Estate and Land Company
Investment Insights
Based on property information with market context.
This for-sale flex building contains 50,088 SF total and offers 23,000 SF of office/flex space available in June 2025. The balance of the building is currently leased to established tenants, including Victress Health, S.S.O.E Inc., and Eagle Mark, generating $17,373 per month.
The property is located at 2025 E 4th St in Lima, Ohio, along I-75, positioned between Toledo and Dayton. It provides exceptional visibility on East 4th Street with 13,500+ vehicles daily, and it is situated near Eastgate’s hotels and restaurants.
For buyers and operators seeking a flexible commercial asset, the building supports a range of business uses described for the offering, including office, R&D, showroom, or warehouse/distribution. The available office/flex portion arriving in June 2025 can accommodate an expansion plan or a repositioning strategy while maintaining income from the currently leased space.
The property is located at 2025 E 4th St in Lima, Ohio, along I-75, positioned between Toledo and Dayton. It provides exceptional visibility on East 4th Street with 13,500+ vehicles daily, and it is situated near Eastgate’s hotels and restaurants.
For buyers and operators seeking a flexible commercial asset, the building supports a range of business uses described for the offering, including office, R&D, showroom, or warehouse/distribution. The available office/flex portion arriving in June 2025 can accommodate an expansion plan or a repositioning strategy while maintaining income from the currently leased space.
Key Highlights
- 50,088 SF flex building at 2025 E 4th St, built in 1967
- 23,000 SF of office/flex space scheduled for availability in June 2025
- Remaining space leased to established tenants: Victress Health, S.S.O.E Inc., and Eagle Mark 4
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
$205,821
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
7.22%
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%
$4,116,420
$4.1M
Cap Rate 7%
$2,940,300
$2.9M
Cap Rate 9%
$2,286,900
$2.3M
Market Conditions
NOI Build-Up for 50,088 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
$321.1K $6.41/SF
− Vacancy
−$27.0K −$0.54/SF
EGI
$294.0K $5.87/SF
− OpEx
−$88.2K −$1.76/SF
NOI
$205.8K $4.11/SF
Area
Allen County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
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%
$4,116,420
Cap Rate 7%
$2,940,300
Cap Rate 9%
$2,286,900
Alternative Uses
Best Use
Office B
$9.07M
$7.93M – $10.58M
NOI $634,715 @ 7.0% cap · market cap 22.27%
Second Best
Flex RnD
$4.11M
$3.60M – $4.79M
NOI $287,655 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$12.06M
$10.56M – $14.08M
NOI $844,508 @ 7.0% cap · market cap 29.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
13,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Includes 23,000 SF of office/flex space scheduled for availability in June 2025 with strong daily street visibility.
Where is this flex space located?
The property is located at 2025 E 4th St Lima, OH.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 50,088 SF flex building at 2025 E 4th St, built in 1967; 23,000 SF of office/flex space scheduled for availability in June 2025; Remaining space leased to established tenants: Victress Health, S.S.O.E Inc., and Eagle Mark 4
