Corner Bar and Nightclub
For Sale
$375,000
337 N Elizabeth St, Lima, OH 45801
Single-tenant entertainment property on a corner parcel with surface parking and frontage on two streets.
Property Size4,263 SF
Lot Size0.21 Acres
Price / SF$87.97
Days on Market110
Property Features for 337 N Elizabeth St
General Information
Standard status
Active
Size
4,263 SF
Lot size
0.21 Acres
Zoning
Class I Business Retail
Additional Details
Opportunity Zone
Yes
Corner Location
Yes
Building Details
Tenancy
Single
Listing Agency:
Dye Real Estate & Land Company
(419) 516-4106
Listed By:
Garrett Gatton
(419) 604-6625
Source:
Exprealty
Added: Jun 19
Changed: Sep 13
Last Checked: Oct 5 at 10:12PM
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 Dye Real Estate & Land Company
Investment Insights
Based on property information with market context.
This single-tenant bar and nightclub property contains 4,263 SF within a commercial building on a 0.21-acre corner parcel. The site includes 10+ surface parking spaces and frontage along both N Elizabeth St and W Wayne St. Class I Business Retail zoning and its placement within an Opportunity Zone are additional property characteristics.
The property is at 337 N Elizabeth St in Lima, Ohio, near W Wayne St. Vehicle access is supported by traffic counts reaching 5,762 VPD. The existing configuration may accommodate continued entertainment use, retail, service use, or redevelopment, subject to applicable zoning and permitted-use requirements.
The property is at 337 N Elizabeth St in Lima, Ohio, near W Wayne St. Vehicle access is supported by traffic counts reaching 5,762 VPD. The existing configuration may accommodate continued entertainment use, retail, service use, or redevelopment, subject to applicable zoning and permitted-use requirements.
Key Highlights
- 4,263 SF single‑tenant bar‑nightclub property
- 0.21‑acre corner lot with 10+ surface parking spaces
- Frontage along both Elizabeth St and Wayne St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,918
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,360
$338.4K
Cap Rate 7%
$241,686
$241.7K
Cap Rate 9%
$187,978
$188.0K
Market Conditions
NOI Build-Up for 4,263 SF
Gross rent
$25.1K $5.88/SF
− Vacancy
−$897 −$0.21/SF
EGI
$24.2K $5.67/SF
− OpEx
−$7.3K −$1.70/SF
NOI
$16.9K $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%
$338,360
Cap Rate 7%
$241,686
Cap Rate 9%
$187,978
Alternative Uses
Best Use
Specialty Retail
$827.0K
$723.7K – $964.9K
NOI $57,892 @ 7.0% cap · market cap 15.44%
Second Best
Retail
$241.7K
$211.5K – $282.0K
NOI $16,918 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.03M
$898.5K – $1.20M
NOI $71,876 @ 7.0% cap · market cap 19.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
44k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 39%
Home Improvements & Furnishings 6%
Hotels & Casinos 5%
McDonald's
Dining
19,448 visits/mo
0.4 miles
Huntington Bank
Shops & Services
6,813 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,752 visits/mo
0.4 miles
Fifth Third Bank & ATM
Shops & Services
2,959 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
2,696 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Single-tenant entertainment property on a corner parcel with surface parking and frontage on two streets.
Where is this bar & pub located?
The property is located at 337 N Elizabeth St Lima, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 4,263 SF single‑tenant bar‑nightclub property; 0.21‑acre corner lot with 10+ surface parking spaces; Frontage along both Elizabeth St and Wayne St
