Freestanding Auto Shop with
New
For Sale
$650,000
710 N Cable Rd, Lima, OH 45805
Freestanding facility combines office space with a service garage, paved surroundings, and existing rack storage.
Property Size4,752 SF
Price / SF$136.78
Days on Market2
Property Features for 710 N Cable Rd
General Information
Standard status
Active
Size
4,752 SF
Property subtype
Free Standing Building
Additional Details
Road Access
Yes
Building Details
Building Size
4,752 SF
Year Built
2003
Buildings
1
Listing Agency:
RIOsource Group
(937) 206-1925
Listed By:
Douglas Klang
(937) 206-1925
Source:
Thebrokerlist
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:34AM
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 RIOsource Group
Investment Insights
Based on property information with market context.
This freestanding auto shop includes 4,752 SF of building area, divided between 1,188 sq.ft. of office and lobby space and a 3,564 sq.ft. garage. The office area includes a 1/2 bath, while the garage provides a concrete floor, rack storage, HVAC, and electrical panels. Interior ceiling height reaches 15 ft.
The building sits at 710 N Cable Road in Lima, between Allentown Road and Latham Avenue. Approximately 13,000 sq.ft. of paved asphalt surrounds the structure, providing substantial paved area for vehicle-related operations. Constructed in 2003, the property is identified as a former Midas building.
The building sits at 710 N Cable Road in Lima, between Allentown Road and Latham Avenue. Approximately 13,000 sq.ft. of paved asphalt surrounds the structure, providing substantial paved area for vehicle-related operations. Constructed in 2003, the property is identified as a former Midas building.
Key Highlights
- 4,752 SF free‑standing auto shop building
- 1,188 sq.ft. of office/lobby space with 1/2 bath
- 3,564 sq.ft. garage with concrete floor and rack storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,527
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$390,540
$390.5K
Cap Rate 7%
$278,957
$279.0K
Cap Rate 9%
$216,967
$217.0K
Market Conditions
NOI Build-Up for 4,752 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.5K $6.41/SF
− Vacancy
−$2.6K −$0.54/SF
EGI
$27.9K $5.87/SF
− OpEx
−$8.4K −$1.76/SF
NOI
$19.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$390,540
Cap Rate 7%
$278,957
Cap Rate 9%
$216,967
Alternative Uses
Best Use
Industrial
$279.0K
$244.1K – $325.5K
NOI $19,527 @ 7.0% cap · market cap 3.00%
Second Best
Retail
$269.4K
$235.7K – $314.3K
NOI $18,859 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,121 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
285k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 33%
Shops & Services 30%
Dining 23%
Apparel 10%
Walmart
Superstores
93,822 visits/mo
0.4 miles
McDonald's
Dining
20,476 visits/mo
0.2 miles
Speedway
Shops & Services
19,875 visits/mo
0.2 miles
Dollar Tree
Shops & Services
18,628 visits/mo
0.2 miles
Runnings
Apparel
16,351 visits/mo
0.3 miles
Demographics for 45805, OH
22,740
Population
10,560
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
94%
High-School Grad
14.6 sq mi
ZIP Area
1,558
Density / Sq Mi
$65,954
Median Household Income
$37,126
Median Earnings
$944
Median Rent
$153,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Reineke Nissan Service — 1350 N Cable Rd, Lima, OH 45805
- Downtown Sounds & Security — 2193 Elida Rd, Lima, OH 45805
- Walmart Auto Care Centers — 2450 Allentown Rd, Lima, OH 45805
- Hefner's Service Center — 1401 Allentown Rd, Lima, OH 45805
- Tom Ahl Body Shop — 2525 allentown rd, lima, oh 45805
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding facility combines office space with a service garage, paved surroundings, and existing rack storage.
Where is this auto shop located?
The property is located at 710 N Cable Rd Lima, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,752 SF free‑standing auto shop building; 1,188 sq.ft. of office/lobby space with 1/2 bath; 3,564 sq.ft. garage with concrete floor and rack storage
