Brick Office Building with
For Sale
$400,000
303 E High Street, Lima, OH 45801
Commercial Sale, Lima, OH
Property Size2,255 SF
Price / SF$177.38
Days on Market340
Property Features for 303 E High Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
447-Office Buidlings
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot
Standard status
Active
APN
37-3106-18-006.000
Size
2,255 SF
Taxes and HOA fees
Tax Description
O L 2 S PT-E END FF 050.000
Legal Description
O L 2 S PT-E END FF 050.000
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1852
Floors in Building
1
Building materials
Brick
Roof type
Metal
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Maria Sanko · License #2006007344
(419) 303-8495
Added: Nov 1, 2025
Changed: Oct 2
Last Checked: Oct 6 at 4:06PM
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.
Investment Insights
Based on property information with market context.
Built in 1852 and remodeled in 1991, this 2,255-square-foot brick office building at 303 E High Street includes four offices, one full bathroom, and one half bathroom. The interior also features a reception area with a built-in desk, multiple entrances, and loft space that can support storage or additional office use. Natural gas forced-air heating and central air conditioning serve the building, with a metal roof and public water and sewer.
A private off-street parking lot provides on-site parking. The property is located near downtown Lima in Allen County, Ohio, offering an established office setting with a compact, functional layout and adaptable interior areas.
A private off-street parking lot provides on-site parking. The property is located near downtown Lima in Allen County, Ohio, offering an established office setting with a compact, functional layout and adaptable interior areas.
Key Highlights
- 2,255‑square‑foot brick office building constructed in 1852
- Remodeled in 1991
- Four offices with one full and one half bathroom
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled office property offers multiple entrances, private parking, four offices, and public utilities near downtown Lima.
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 constructed in 1852; Remodeled in 1991; Four offices with one full and one half bathroom
