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    122 North St Lima, OH 45801

    Sponsored
    For Sale
    $749,000

    Lima, Ohio entertainment venue; 19,956 sq ft.

    Property size:
    19,956 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Own a piece of Lima history! This 19,956 square foot, two-story, all-brick building, located at 122 W North St, Lima, OH 45801, is a mixed-use property currently operating at 100% occupancy. Built in 1923 and extensively renovated between 2020 and 2024, this unique property boasts a rich history as a beloved entertainment venue. The Ohio Theater offers flexible usage options, including live productions, concerts, screenings, and restaurant concepts. The former 2,760 square foot "Ohio Room" presents additional development potential, perhaps as a residence or private club. The property includes a state-of-the-art production kitchen, a recently replaced roof, new coolers and freezers, and extensive electrical upgrades. Street retail space provides additional income potential. The 0.413-acre lot is zoned for business use (APN: 37-3106-11-007.000). The asking price is $749,000 ($37.53/sq ft). Liquor licenses (D1, D2, and D3) are transferable. Existing furniture, fixtures, and equipment may be included in negotiations. This Opportunity Zone property presents a unique investment opportunity. Current operations continue; please do not disturb staff.

    Property Features for 122 North St

    General Information

    Property type
    Specialty properties
    Square Feet
    19,956 SF
    Lot Size
    17,990 SF

    Building Details

    Year Built/Renovated
    1923/2020
    Buildings
    1
    Stories
    2

    HighLights

    • $749,000 asking price for a 19,956 square foot mixed‑use property.
    • Located at 122 W North St, Lima, OH 45801, on a 0.413‑acre lot.
    • 100% occupancy with a current business use.
    • Two‑story, 1923‑built building, renovated 2020‑2024.
    • Features include a state‑of‑the‑art production kitchen, recently replaced roof and coolers/freezers, and extensive electrical upgrades.
    • Includes D1, D2, and D3 liquor licenses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Play With Your ... Theater Production The Ohio Theatre Lima Dinner Theater

    Suggested Use

    Restaurant Nail Salon Clothing Store Building Supply Pharmacy Gym & Fitness Auto Repair Shop HVAC Service Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.1061098211
    Latitude
    40.742674376018

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    FAQs

    What type of property is this?
    Specialty property - Lima, Ohio entertainment venue; 19,956 sq ft.
    Where is this specialty property located?
    The property is located at 122 North St Lima, OH.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: $749,000 asking price for a 19,956 square foot mixed-use property.; Located at 122 W North St, Lima, OH 45801, on a 0.413-acre lot.; 100% occupancy with a current business use.
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    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
    122 North St Lima, OH 45801
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