Retail Space with New
New
For Sale
$249,000
2470 N Eastown Road, Lima, OH 45805
The property is vacant, ADA accessible, and has a current commercial occupancy permit.
Property Size2,030 SF
Price / SF$122.66
Days on Market2
Property Features for 2470 N Eastown Road
General Information
Standard status
Active
Size
2,030 SF
Taxes and HOA fees
Annual Taxes
$1,332
Amenities
true
1
Public
0.26
.255 acres
Off Street,Private
Asphalt
County Road
2030
Building Details
Building Size
2,030 SF
Year Built
1920
Stories
1
Listing Agency:
(419) 422-4082
Listed By:
Reed Hubbuch
Source:
Koehlerrealty
Added: Oct 29
Last Checked: Oct 29 at 2:51PM
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 Reed Hubbuch
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This vacant retail property was built in 1920 and contains 2,030 square feet, including the garage. A new roof has been completed, and the property has a current commercial occupancy permit. It is ADA accessible.
Located at 2470 N Eastown Road in Lima, Ohio, the property sits between Meijer and Lowe’s.
Located at 2470 N Eastown Road in Lima, Ohio, the property sits between Meijer and Lowe’s.
Key Highlights
- 2,030 square feet, with the garage included
- New roof completed
- Current commercial occupancy permit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,056
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,120
$161.1K
Cap Rate 7%
$115,086
$115.1K
Cap Rate 9%
$89,511
$89.5K
Market Conditions
NOI Build-Up for 2,030 SF
Gross rent
$11.9K $5.88/SF
− Vacancy
−$427 −$0.21/SF
EGI
$11.5K $5.67/SF
− OpEx
−$3.5K −$1.70/SF
NOI
$8.1K $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%
$161,120
Cap Rate 7%
$115,086
Cap Rate 9%
$89,511
Alternative Uses
Best Use
Retail
$115.1K
$100.7K – $134.3K
NOI $8,056 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.0K
$427.8K – $570.5K
NOI $34,227 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
409k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 32%
Home Improvements & Furnishings 25%
Shops & Services 10%
Meijer
Groceries
94,314 visits/mo
0.2 miles
Menards
Home Improvements & Furnishings
45,124 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
39,468 visits/mo
0.1 miles
Panda Express
Dining
32,109 visits/mo
0.3 miles
Applebee's
Dining
22,526 visits/mo
0.1 miles
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The property is vacant, ADA accessible, and has a current commercial occupancy permit.
Where is this retail space located?
The property is located at 2470 N Eastown Road Lima, OH.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 2,030 square feet, with the garage included; New roof completed; Current commercial occupancy permit
