Building Details

Year built 1955

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

Listed By: Gregory Stolly Show Phone

Added: May 12 Changed: Oct 2 Last Checked: Oct 7 at 4:06AM

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MLS# 310225

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.

Investment Insights

Based on property information with market context.

This mixed-use property at 608 W High Street includes 6,379 square feet of commercial space on the main level, currently leased with 2 years remaining. The property also contains 2 apartments, each measuring 1,180 square feet, and both are vacant and ready for occupancy. Forced-air heating and central air conditioning serve the property, with public water and public sewer available.

The offering includes a commercial listing at 200 N. Metcalf Street and encompasses 5 total units, 4 of which are currently occupied. Each unit is individually metered, and all leases are structured as NNN. Built in 1955, the property is zoned Commercial.

Key Highlights

• 6,379‑square‑foot main‑level commercial space with 2 years remaining on the current lease
• Two vacant apartments, each measuring 1,180 square feet
• 5 total units, with 4 currently rented

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,368

Cap Rate

5.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$987,360 $987.4K

Cap Rate 7%

$705,257 $705.3K

Cap Rate 9%

$548,533 $548.5K

Market Conditions

NOI Build-Up for 6,379 SF

Gross rent

$99.5K $15.60/SF

− Vacancy

−$9.8K −$1.53/SF

EGI

$89.8K $14.07/SF

− OpEx

−$40.4K −$6.33/SF

NOI

$49.4K $7.74/SF

Area

Allen County, OH

Vacancy

9.80%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$987,360

Cap Rate 7%

$705,257

Cap Rate 9%

$548,533

Alternative Uses

Best Use

Apartment 5plus

$705.3K

$617.1K – $822.8K (±1% cap)

NOI $49,368 @ 7.0% cap · market cap 5.34%

Second Best

Mixed Use

$305.1K

$266.9K – $355.9K (±1% cap)

NOI $21,354 @ 7.0% cap · market cap 2.31%

Theoretical Best

Office A

$1.54M

$1.34M – $1.79M (±1% cap)

NOI $107,553 @ 7.0% cap · market cap 11.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

YWCA Child Care ... Training Center

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Big Box & Wholesale Store Building Supply 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.

Lease Details

80%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,717

Businesses Nearby

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties 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?

Mixed-use property - Commercial space and apartments combine with individually metered units and NNN leases.

Where is this mixed-use property located?

The property is located at 608 W High Street Lima, OH.

What is the asking price?

The asking price for this property is $925,000.

What are key features of this property?

This property features: 6,379‑square‑foot main‑level commercial space with 2 years remaining on the current lease; Two vacant apartments, each measuring 1,180 square feet; 5 total units, with 4 currently rented