Listing Agency: Superior Plus Realtors

Listed By: Greg Butcher · License #0000324616 Show Phone

Source: Moodyscre

Added: Sep 22, 2025 Changed: Sep 8 Last Checked: Oct 7 at 3:49PM

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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

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.

Property Analytics

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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

Questions? Ask Rey

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What type of property is this? Where is this retail properties & spaces located? What is the asking price? Find similar properties What are key features of this property?

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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