Building Details

Year built 2006

Floors in Building 1

Flooring type Carpet, Tile - Ceramic

Building materials Brick

Listing Agency: CCR Realtors · Real Living w***@yahoo.com Show Phone

Listed By: Maria Sanko · License #2006007344 Show Phone

Added: Sep 1 Changed: Oct 17 Last Checked: Oct 18 at 8:06AM

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MLS# 311423

Copyright © 2026 West Central Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 13,974-square-foot medical center occupies a 2.4-acre site and was built in 2006. The brick building includes ceramic tile and carpet flooring, with natural gas forced-air heat and central air conditioning. A dedicated parking lot serves the property.

Public water and public sewer support the facility. The building is located at 375 N Eastown Road in Lima, Ohio, within Allen County. Its existing medical use and office-oriented construction provide a defined healthcare property profile.

Key Highlights

• 13,974‑square‑foot medical center on a 2.4‑acre site
• Built in 2006 with brick construction
• Dedicated parking lot on site

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$177,079

Cap Rate

3.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,541,580 $3.5M

Cap Rate 7%

$2,529,700 $2.5M

Cap Rate 9%

$1,967,544 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,974 SF

Gross rent

$268.3K $19.20/SF

− Vacancy

−$32.2K −$2.30/SF

EGI

$236.1K $16.90/SF

− OpEx

−$59.0K −$4.22/SF

NOI

$177.1K $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%

$3,541,580

Cap Rate 7%

$2,529,700

Cap Rate 9%

$1,967,544

Alternative Uses

Best Use

Office B

$2.53M

$2.21M – $2.95M (±1% cap)

NOI $177,079 @ 7.0% cap · market cap 3.61%

Second Best

Healthcare Medical

$2.25M

$1.97M – $2.63M (±1% cap)

NOI $157,585 @ 7.0% cap · market cap 3.22%

Theoretical Best

Office A

$3.37M

$2.95M – $3.93M (±1% cap)

NOI $235,608 @ 7.0% cap · market cap 4.81%

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

Property Analytics

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Current Use

Sheri Miller Physician Lima Memorial Health ... Medical Clinic Michelle Tegenkamp Physician Marjorie Demund Physician Ogbolu Francis MD Physician

Suggested Use

Top Pick Real Estate Agency Restaurant Big Box & Wholesale Store Law Firm Auto Repair Shop Auto Parts Store

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

226

Businesses Nearby

Explore this area Business Placement

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical center - Brick medical facility with ceramic tile and carpet finishes, central air, and public utilities.

Where is this medical center located?

The property is located at 375 N Eastown Road Lima, OH.

What is the asking price?

The asking price for this property is $4,900,000.

What are key features of this property?

This property features: 13,974‑square‑foot medical center on a 2.4‑acre site; Built in 2006 with brick construction; Dedicated parking lot on site