Building Details

Year built 1920

Floors in Building 1

Building materials Frame

Roof type Asphalt

Listing Agency: CCR Realtors · Real Living w***@yahoo.com Show Phone

Listed By: Joseph Guagenti Show Phone

Added: Jan 26 Changed: Oct 19 Last Checked: Oct 20 at 11:06AM

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MLS# 309295

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.

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Investment Insights

Based on property information with market context.

This vacant retail property contains 2,030 square feet, including the garage, and has a recently completed roof. The frame building dates to 1920 and is zoned B2. Interior features include one bathroom, with forced-air heating and central air conditioning.

The property is situated between Meijer and Lowe’s on N Eastown Road in Lima. It has off-street parking and public water and sewer service.

Key Highlights

• 2,030 square feet, including the garage
• Recently completed roof
• Current commercial occupancy permit; ADA accessible

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

Is this asking price fair?

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 (±1% cap)

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 (±1% cap)

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

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Current Use

Chakra Studio Spiritual Center

Suggested Use

Top Pick Law Firm HVAC Service Real Estate Agency Garden Center Pharmacy Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Vacant and ADA-accessible, the property carries 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, including the garage; Recently completed roof; Current commercial occupancy permit; ADA accessible