Flex Office and Warehouse
For Sale
Contact for pricing
3945 Stewart Road, Lima, OH 45801
A renovated mixed-use flex building with office space and warehouse/storage area for flexible business operations.
Property Size2,400 SF
Price / SF$91.67
Days on Market141
Property Features for 3945 Stewart Road
General Information
Standard status
Active
Size
2,400 SF
Class
B
Property subtype
Business for Sale
Zoning
Commercial
Additional Details
Drive-In Doors
1
Office Units
2
Building Details
Year Built
1972
Year Renovated
2023
Units
1
Listing Agency:
Dye Real Estate and Land Company
Listed By:
Garrett Gatton · License #2019005469
(419) 604-6625
Source:
Crexi
Added: Jun 3
Changed: Oct 10
Last Checked: Oct 20 at 7:57PM
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 and Land Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a 2,400-square-foot flex building combining office/retail space with warehouse or storage. The layout includes 1,600 square feet of office/retail area and 800 square feet dedicated to warehouse or storage, along with two offices and two bathrooms. A single overhead door supports practical loading needs, and the building is equipped with an LED light system that was added a few years ago. Improvements also include a Culligan water filtration system, a security system, and an ADA-compliant design. Recent updates include bathroom improvements, fresh interior and exterior paint, new carpet, segmented storage space, and an upgraded electrical system in the warehouse. The roof was added in 2023, and the blacktop was re-sealed and lined.
Located at 3945 Stewart Road in Lima, Ohio, the building is suited to companies that want both customer-facing space and functional storage in one structure. Exterior surfaces have been addressed with re-sealed and lined blacktop, supporting day-to-day vehicle access.
For tenants or buyers seeking a move-in-ready setup, the combination of office/retail use, ADA compliance, and warehouse/storage configuration can support a range of service, distribution, and light industrial operations. With multiple interior updates and key building systems already in place, it provides a practical foundation for immediate use.
Located at 3945 Stewart Road in Lima, Ohio, the building is suited to companies that want both customer-facing space and functional storage in one structure. Exterior surfaces have been addressed with re-sealed and lined blacktop, supporting day-to-day vehicle access.
For tenants or buyers seeking a move-in-ready setup, the combination of office/retail use, ADA compliance, and warehouse/storage configuration can support a range of service, distribution, and light industrial operations. With multiple interior updates and key building systems already in place, it provides a practical foundation for immediate use.
Key Highlights
- 2,400 SF mixed‑use flex building with 1,600 SF office/retail space and 800 SF warehouse/storage
- New roof added in 2023
- LED light system added a few years ago and upgraded electrical in the warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,783
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,660
$275.7K
Cap Rate 7%
$196,900
$196.9K
Cap Rate 9%
$153,144
$153.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$22.8K $9.48/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$21.2K $8.84/SF
− OpEx
−$7.4K −$3.09/SF
NOI
$13.8K $5.74/SF
Area
Allen County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,660
Cap Rate 7%
$196,900
Cap Rate 9%
$153,144
Alternative Uses
Best Use
Office B
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 13.82%
Second Best
Flex RnD
$196.9K
$172.3K – $229.7K
NOI $13,783 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$578.1K
$505.8K – $674.4K
NOI $40,465 @ 7.0% cap · market cap 18.39%
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
Lease Details
1
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A renovated mixed-use flex building with office space and warehouse/storage area for flexible business operations.
Where is this flex space located?
The property is located at 3945 Stewart Road Lima, OH.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,400 SF mixed‑use flex building with 1,600 SF office/retail space and 800 SF warehouse/storage; New roof added in 2023; LED light system added a few years ago and upgraded electrical in the warehouse
