Historic Office
For Sale
$400,000
303 E High Street, Lima, OH 45801
Private off-street parking serves a multi-office layout with reception and loft space.
Property Size2,255 SF
Price / SF$177.38
Days on Market14
Property Features for 303 E High Street
General Information
Standard status
Active
Size
2,255 SF
Zoning
447-Office Buidlings
Additional Details
Property Use
Office
Amenities
true
2
Public
Private,Parking Lot
Asphalt
City Street
2255
1
Building Details
Building Size
2,255 SF
Year Built
1852
Year Renovated
1991
Buildings
1
Stories
1
Listing Agency:
CCR Realtors
Listed By:
Maria Sanko · License #2006007344
(419) 303-8495
Source:
Binkleyre
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 28 at 2:54PM
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 CCR Realtors
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Investment Insights
Based on property information with market context.
Built in 1852 and remodeled in 1991, this 2,255-square-foot office property includes four offices, one full bathroom and one half bathroom. A reception area has a built-in desk, and multiple entrances serve the building. The loft provides space for storage or additional offices.
The property has a private, off-street asphalt parking lot and is described as convenient to downtown Lima. It is located at 303 E High Street in Lima, Ohio.
The property has a private, off-street asphalt parking lot and is described as convenient to downtown Lima. It is located at 303 E High Street in Lima, Ohio.
Key Highlights
- 2,255‑square‑foot office building, constructed in 1852 and remodeled in 1991
- Four offices, one full bathroom and one half bathroom
- Reception area with built‑in desk and multiple entrances
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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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
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
Frequently Asked Questions
What type of property is this?
Office building - Private off-street parking serves a multi-office layout with reception and loft space.
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 office building, constructed in 1852 and remodeled in 1991; Four offices, one full bathroom and one half bathroom; Reception area with built‑in desk and multiple entrances
