Building Details

Building Size 9,975 SF

Year Built 1960

Listing Agency: CCR Realtors

Listed By: Gregory Stolly Show Phone

Source: Koehlerrealty

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 28 at 3:45PM

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

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Investment Insights

Based on property information with market context.

This automotive property includes 9,975 square feet of building area across two parcels. Interior features include concrete and vinyl finishes, display windows, and an overhead door. The property was built in 1960 and includes a private parking lot.

The site contains 1.51 acres on Elida Road in Lima, Ohio. Listed business categories include auto service, barber or beauty, and professional services.

Key Highlights

• 9,975 square feet of building area
• Two parcels
• 1.51‑acre site on Elida Road in Lima, Ohio

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,989

Cap Rate

5.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$819,780 $819.8K

Cap Rate 7%

$585,557 $585.6K

Cap Rate 9%

$455,433 $455.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,975 SF

Gross rent

$63.9K $6.41/SF

− Vacancy

−$5.4K −$0.54/SF

EGI

$58.6K $5.87/SF

− OpEx

−$17.6K −$1.76/SF

NOI

$41.0K $4.11/SF

Area

Allen County, OH

Vacancy

8.42%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$819,780

Cap Rate 7%

$585,557

Cap Rate 9%

$455,433

Alternative Uses

Best Use

Industrial

$585.6K

$512.4K – $683.2K (±1% cap)

NOI $40,989 @ 7.0% cap · market cap 5.16%

Second Best

Retail

$565.5K

$494.8K – $659.8K (±1% cap)

NOI $39,587 @ 7.0% cap · market cap 4.98%

Theoretical Best

Office A

$2.40M

$2.10M – $2.80M (±1% cap)

NOI $168,183 @ 7.0% cap · market cap 21.16%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick HVAC Service Pharmacy Real Estate Agency Garden Center Grocery & Convenience Store Skin Care Clinic

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

193

Businesses Nearby

146k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Home Improvements & Furnishings 30% Groceries 24% Shops & Services 3%

Lowe's Home Improvements & Furnishings

39,468 visits/mo 0.3 miles

Applebee's Dining

22,526 visits/mo 0.4 miles

Aldi Groceries

19,678 visits/mo 0.5 miles

Gordon Food Service Groceries

15,057 visits/mo 0.3 miles

Chipotle Mexican Grill Dining

14,623 visits/mo 0.4 miles

Demographics for 45807, OH

11,856

Population

5,109

Households

2.3

Avg Household Size

45

Median Age

22%

College-Educated

96%

High-School Grad

75.4 sq mi

ZIP Area

157

Density / Sq Mi

$74,387

Median Household Income

$41,645

Median Earnings

$967

Median Rent

$192,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Shroyer Auto Repair — 2117 N Eastown Rd, Lima, OH 45807
• Honda Service — lima, oh 45807
• Take 5 Oil Change — 2285 N Eastown Rd, Lima, OH 45807
• Valvoline Instant Oil Change — 3230 Elida Rd, Lima, OH 45805
• White's Honda Service — 3500 Elida Rd, Lima, OH 45807

Frequently Asked Questions

What type of property is this?

Auto shop - The property comprises two parcels with display windows and a parking lot.

Where is this auto shop located?

The property is located at 3600-3602 Elida Road Lima, OH.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: 9,975 square feet of building area; Two parcels; 1.51‑acre site on Elida Road in Lima, Ohio