Listing Agency: Superior Plus Realtors

Listed By: Greg Butcher · License #0000324616 Show Phone

Source: Moodyscre

Added: Sep 22, 2025 Changed: Oct 26 Last Checked: Oct 26 at 7:59PM

Report an Issue

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 Superior Plus Realtors

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This retail property offers 7,000 square feet of space. It is located on North Main Street in Lima, Ohio.

Key Highlights

• 7,000 SF retail property
• Property for sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,781

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$555,620 $555.6K

Cap Rate 7%

$396,871 $396.9K

Cap Rate 9%

$308,678 $308.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$41.2K $5.88/SF

− Vacancy

−$1.5K −$0.21/SF

EGI

$39.7K $5.67/SF

− OpEx

−$11.9K −$1.70/SF

NOI

$27.8K $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%

$555,620

Cap Rate 7%

$396,871

Cap Rate 9%

$308,678

Alternative Uses

Best Use

Retail

$396.9K

$347.3K – $463.0K (±1% cap)

NOI $27,781 @ 7.0% cap · market cap 7.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,023 @ 7.0% cap · market cap 33.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Hawthorne Systems Inc Construction Company 318 Restaurant & Bar Restaurant szdxazdasda Bar & Pub

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Grocery & Convenience Store Garden Center Kitchen & Bath Showroom Daycare Center

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

121

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Corner Bar and Nightclub Property

337 N Elizabeth St, Lima, OH 45801

$350,000

4,263 SF

View details

Downtown Storefront Property

502 W High Street, Lima, OH 45801

$285,000

11,624 SF

View details

4-Suite Storefront Property

1151 Shawnee Road, Lima, OH 45805

$225,000

4,733 SF

View details

Mixed-Use Property With Storefronts

222 S Elizabeth Street, Lima, OH 45801

$689,000

5,160 SF

View details

Medical Office Building with Receiving Door

1601 Allentown Road, Lima, OH 45805

$650,000

4,995 SF

View details

Freestanding Auto Shop with Garage

710 N Cable Rd, Lima, OH 45805

$650,000

4,752 SF

View details

Multi-Storefront Retail Building

1623 N Main Street, Lima, OH 45801

$224,900

4,399 SF

View details

Multi-Unit Strip Mall

1102-1104 N West Street, Lima, OH 45801

$259,000

3,836 SF

View details

Three-Story Downtown Retail Building

126 W High Street, Lima, OH 45801

$625,000

11,700 SF

View details

Flex Space with Garage Workspace

1603 N Sugar Street, Lima, OH 45801

$299,000

View details

Retail Space with Dog Run

3235 Allentown Road, Lima, OH 45805

$315,000

1,606 SF

View details

Retail Building with New Roof

2470 N Eastown Road, Lima, OH 45805

$249,000

2,030 SF

View details

Frequently Asked Questions

What type of property is this?

Retail property - 7,000 SF retail property for sale.

Where is this retail property located?

The property is located at 318 N Main St Lima, OH.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 7,000 SF retail property; Property for sale