Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    506 Market St Lima, OH 45801

    Sponsored
    For Sale
    $2,700,000

    High-traffic Lima, OH retail space. Excellent investment potential.

    Property size:
    15,102 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A retail property, located at 506 W Market St, Lima, OH 45801, offers 15,102 square feet of versatile space in a prime location. Built in 2006, this single-story building boasts a desirable location near downtown Lima, Ohio, and is situated in the heart of a thriving medical district, including Mercy Health - St. Rita's Medical Center, Mercy Teaching College, and Mercy Cancer Center, along with numerous other medical offices. The property's strategic placement makes it ideal for medical-related businesses, offering the potential for a single-tenant lease or division into three approximately 5,000 square foot units. Beyond medical uses, its high visibility and accessibility also make it suitable for a variety of other businesses, including restaurants (complementing three new downtown establishments), automotive parts stores, general retail, or service-oriented enterprises. The asking price is $2,700,000, translating to $178.78 per square foot. This well-maintained building presents a turnkey opportunity for investors seeking a strong return on investment, whether they are looking for a single large tenant or multiple smaller tenants. The property is ready for immediate occupancy.

    Property Features for 506 Market St

    General Information

    Property type
    Day care centers
    Square Feet
    15,102 SF
    Class
    A

    Building Details

    Year Built
    2006
    Buildings
    1
    Stories
    1
    Units
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Ida M. Mooney, ... Pharmacy Rite Aid Pharmacy Pharmacy Rhonda S. French, ... Pharmacy Rite Aid Drug Store Dave's Reliable Motors Auto Repair Shop

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.110715913728
    Latitude
    40.740626391849

    Nearby Similar for Sale

    • $325,000
      2,698 SF

      Medical Office Building For Sale

      Medical office building with ample parking in Lima, Ohio.
      1331 W Market St, Lima, OH 45805
      View Details
    • $2,999,999
      18,182 SF

      Medical Office Building Near Hospital

      Well-maintained medical office building near Mercy Hospital in Lima, OH.
      916-920 W Market St, Lima, OH 45805
      View Details
    • $400,000
      2,255 SF

      Historic Office Building with Parking

      Remodeled office building with parking near downtown Lima.
      303 E High St, Lima, OH 45801
      View Details
    • $1,400,000
      30,000 SF

      Remodeled Commercial Building with Event Space

      30,000 sq ft building with event rooms and patio.
      3175 W Elm St, Lima, OH 45805
      View Details
    • $70,000
      1,496 SF

      Commercial Pole Barn Near Lincoln Park

      Metal pole barn suitable for retail or automotive use.
      170 S Perry St, Lima, OH 45804
      View Details
    • $190,000
      3,134 SF

      Lima, OH Corner Lot Property

      Two standalone buildings, updated infrastructure, adaptable for various commercial uses.
      855 N Metcalf St, Lima, OH 45801
      View Details
    • $190,000
      3,134 SF

      Corner Lot Commercial Property

      Two standalone buildings, updated, adaptable for various commercial uses.
      855 N Metcalf St, Lima, OH 45801
      View Details
    • $275,000
      4,733 SF

      Commercial Building in High Traffic Area

      Income-producing suites with development potential in a high-visibility location.
      1151 Shawnee Rd, Lima, OH 45805
      View Details
    • $140,000

      Multi-Family Investment Opportunity in Lima

      Multi-family property with renovation potential in an opportunity zone.
      627-631 Brice Ave, Lima, OH 45801
      View Details
    • $1,400,000
      6,690 SF

      Restaurant Building with High Traffic

      Well-maintained restaurant building on a 1.18-acre lot in Lima, OH.
      1507 Harding Hwy, Lima, OH 45804
      View Details
    • $550,000
      2,894 SF

      Charming Brick Church with Parking

      Well-maintained 2,894 SF church with ample parking and seating.
      900 Market St W, Lima, OH 45805
      View Details
    • $450,000
      47,528 SF

      Spacious Warehouse in Lima, Ohio

      47,500+ sq ft warehouse on .291 acres with rear parking.
      123 E Wayne St, Lima, OH 45801
      View Details

    FAQs

    What type of property is this?
    Day care center - High-traffic Lima, OH retail space. Excellent investment potential.
    Where is this day care center located?
    The property is located at 506 Market St Lima, OH.
    What is the asking price?
    The asking price for this property is $2,700,000.
    Request Owner's contact information
    506 Market St Lima, OH 45801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    506 Market St
    Lima, OH 45801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    506 Market St Lima, OH 45801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.