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    710 Main St Lima, OH 45801

    Sponsored
    For Sale
    $847,000

    HUD Property: High Cap Rate, Excellent ROI

    Property size:
    9,940 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Exceptional investment opportunity: Greenway Apartments, a single-story, 9,940 square foot HUD-subsidized property located at 710 N Main St, Lima, OH 45801. This 1-unit building, constructed in 1993, boasts a 100% occupancy rate as of July 31, 2024, generating a substantial Net Operating Income (NOI) of $74,000 and an attractive 8.74% capitalization rate. The asking price is $847,000, translating to $85.21 per square foot and $847,000 per unit. The property features a 12-foot ceiling height and is zoned for hospital use. The Allen County property (APN: 37-3012-10-024.000) is part of a larger portfolio of HUD housing units available for sale. The current HUD Section 8 contract extends through 2033. This property presents a strong cash flow opportunity for investors seeking a stable, income-producing asset in a well-established location. Detailed financial information is available upon request.

    Property Features for 710 Main St

    General Information

    Property type
    Specialty properties
    Square Feet
    9,940 SF

    Building Details

    Year Built
    1993
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • HUD‑subsidized Section 8 contract extending through 2033.
    • 9,940 SF single‑story building in Lima, OH.
    • 100% occupancy as of July 31, 2024, generating $74,000 NOI.
    • Asking price: $847,000 ($85.21/SF, $847,000/unit), 8.74% cap rate.
    • Located at 710 N Main St, Lima, OH 45801 (APN: 37‑3012‑10‑024.000).
    Property Profile Location Intelligence

    Current Use by Public Records

    Greenway Apartments Apartment Building Budget Blinds of Lima ... Window Treatment Store T-SHIRTS & SzUCH Embroidery Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.104406343653
    Latitude
    40.748130352257

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    FAQs

    What type of property is this?
    Specialty property - HUD Property: High Cap Rate, Excellent ROI
    Where is this specialty property located?
    The property is located at 710 Main St Lima, OH.
    What is the asking price?
    The asking price for this property is $847,000.
    What are key features of this property?
    This property features: HUD-subsidized Section 8 contract extending through 2033.; 9,940 SF single-story building in Lima, OH.; 100% occupancy as of July 31, 2024, generating $74,000 NOI.
    (419) 236-7357
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    710 Main St Lima, OH 45801
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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
    710 Main St Lima, OH 45801
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