Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Building Near Major Retailers Title is generated by Realmo AI

    2356 Harding Hwy, Lima, OH 45804

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Freestanding building suitable for medical, dental, or community businesses.

    Type:Retail
    Property size:
    6,000 SF
    Added:
    Jun 1, 2021
    Days on Market:
    1817
    Last Refresh:
    May 12 at 9:34 pm

    Property Features for 2356 Harding Hwy

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 2356 Harding Hwy Contact us

    $15/Mo

    Size
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Brian Smith

    Listing agent Brian Smith

    Listing office Florida Equities

    Listing date Jun 1, 2021

    Source Crexi

    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 Florida Equities

    HighLights

    • Freestanding building with high traffic location near major retailers and a strip mall.
    • Complete build‑out options available, suitable for medical, dental, or community businesses.
    • Recently upgraded to modern standards (completed 12/2023) with new roof, siding, gutters, windows, doors, electrical, HVAC, and landscaping.
    • New HVAC system featuring 5 new units and 5 new furnaces.
    • New electrical system including 6 exit/emergency lights, 5 AC condenser disconnects, 8 LED exterior wall pack lights, and a 7‑100 amp 3‑phase meter base.
    • 6000 SqFt divisible by 1500 SqFt.

    Overview

    This freestanding building is located near major retailers and a strip mall, benefiting from substantial traffic. Complete build-out options are available, making it suitable for a medical suite, dentist office, or local community business. The entire 6,000 square foot building has been upgraded to meet current standards as of December 2023. The space is divisible by 1,500 square feet. Upgrades include a new roof, siding, gutters, windows, and doors. Electrical improvements feature six exit and emergency lights with six remote heads, five AC condenser disconnects, eight LED exterior wall pack lights, and a 100 amp 3-phase meter base. The property also includes five new HVAC units and furnaces, along with new landscaping features. The annual rate is $15.00 per square foot, plus CAM.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.062531
    Latitude
    40.7292088

    Nearby Similar for Lease

    • $1,800/Mo
      2,048 SF

      Updated Commercial Space in Lima

      Updated commercial space in high-traffic area, suitable for various businesses.
      617 N Jameson Avenue, Lima, OH 45805
      View Details
    • $4,000/Mo
      6,000 SF

      Industrial Warehouse Near Interstate 75

      6,000 SF warehouse with flexible options near I-75.
      1359 Hanthorn Road, Lima, OH 45804
      View Details
    • $3,850/Mo
      18,182 SF

      Lima Medical Office Suites

      Medical office suites available for lease in Lima, Ohio.
      916-920 W Market Street, Lima, OH 45805
      View Details
    • $1,750/Mo
      1,400 SF

      Retail Space in Lima, Ohio

      Retail property available for lease in Lima, Ohio.
      2411 Shawnee Road, Lima, OH 45806
      View Details
    • $10 SF/Yr
      14,564 SF

      Freestanding Retail Building in Lima

      14,564 SF retail building on 1.46 AC for lease.
      3710 Shawnee Road, Lima, OH, 45806
      View Details
    • $900/Mo
      900 SF

      Downtown Storefront in DORA Zone

      Storefront in downtown Lima, near amenities and primed for growth.
      222 S Elizabeth St, Lima, OH, 45801-4804
      View Details
    • $6 SF/Yr
      6,720 SF

      Lima Warehouse Space Available

      6,720 SF warehouse space for lease in Lima, Ohio.
      960 Industry Ave, Lima, OH
      View Details
    • $15 SF/Yr
      1,445 SF

      Lima Office Space Available

      Office space available for lease in Lima, Ohio.
      3650 Allentown Rd, Lima, OH
      View Details
    • $10 SF/Yr
      3,000 SF

      Retail Space on Elida Road

      3,000 SF retail space available for rent.
      Elida Rd 2400, Lima, OH
      View Details
    • $2,500/Mo

      Commercial Building Near Elida Road

      2100 SF shop space with overhead doors and parking.
      3840 ELIDA RD. (REAR), Lima, OH 45807
      View Details
    • $9 SF/Yr
      4,500 SF

      Lima Retail Space Available

      Retail space available for lease in Lima, Ohio.
      2143-2161 Elida Rd, Lima, OH
      View Details
    • $10 SF/Yr
      1,470 SF

      Retail Space Near Lima Mall

      Retail spaces available near Lima Mall and Elida Road.
      902-914 N Cable Rd, Lima, OH
      View Details

    FAQs

    What type of property is this?
    Retail space - Freestanding building suitable for medical, dental, or community businesses.
    Where is this retail space located?
    The property is located at 2356 Harding Hwy Lima, OH.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Freestanding building with **high traffic location** near major retailers and a strip mall.; Complete build‑out options available, suitable for medical, dental, or community businesses.; **Recently upgraded to modern standards** (completed 12/2023) with new roof, siding, gutters, windows, doors, electrical, HVAC, and landscaping.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Smith
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2356 Harding Hwy, Lima, OH 45804
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!