Historic Office
303 E High Street, Lima, OH 45801
For Sale
$400,000
Commercial Sale, Lima, OH
Property Size2,255 SF
Price / SF$177.38
Days on Market375
Property Features for 303 E High Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking features
Standard status
APN
Size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Maria Sanko · License OH #2006007344
(419) 303-8495
Added: Nov 1, 2025
Changed: Nov 5
Last Checked: Nov 10 at 12:06PM
MLS# 308731
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 2,255-square-foot brick office property dates to 1852 and was remodeled in 1991. Its layout includes four offices, a reception area with a built-in desk, one full bathroom and one half bathroom. Multiple entrances and a loft provide additional flexibility for storage or office use.
A private off-street parking lot serves the building, which is located near downtown Lima. Heating is forced air with natural gas, and cooling is central air. The property has public water and public sewer service.
A private off-street parking lot serves the building, which is located near downtown Lima. Heating is forced air with natural gas, and cooling is central air. The property has public water and public sewer service.
Key Highlights
- 2,255‑square‑foot brick office building built in 1852
- Remodeled in 1991
- Four offices, reception area, one full bath and one half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,575
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,500
$571.5K
Cap Rate 7%
$408,214
$408.2K
Cap Rate 9%
$317,500
$317.5K
Market Conditions
NOI Build-Up for 2,255 SF
Gross rent
$43.3K $19.20/SF
− Vacancy
−$5.2K −$2.30/SF
EGI
$38.1K $16.90/SF
− OpEx
−$9.5K −$4.22/SF
NOI
$28.6K $12.67/SF
Area
Allen County, OH
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,500
Cap Rate 7%
$408,214
Cap Rate 9%
$317,500
Alternative Uses
Best Use
Office B
$408.2K
$357.2K – $476.3K
NOI $28,575 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.1K
$475.3K – $633.7K
NOI $38,020 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
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Business Placement
Demographics for 45801, OH
22,819
Population
9,351
Households
2.4
Avg Household Size
38
Median Age
12%
College-Educated
90%
High-School Grad
45.7 sq mi
ZIP Area
499
Density / Sq Mi
$47,442
Median Household Income
$33,224
Median Earnings
$865
Median Rent
$111,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Four offices, a reception area, storage loft and dedicated off-street parking support a range of office configurations.
Where is this office building located?
The property is located at 303 E High Street Lima, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,255‑square‑foot brick office building built in 1852; Remodeled in 1991; Four offices, reception area, one full bath and one half bath
