7-Suite Medical Office
For Sale
$2,999,999
916-920 W Market Street, Lima, OH 45805
Commercial Sale, Lima, OH
Property Size18,182 SF
Price / SF$164
Days on Market391
Property Features for 916-920 W Market Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 6, Bathroom 5
Parking features
Parking Lot
Standard status
Active
APN
36-3607-02-010.501
Size
18,182 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Building materials
Concrete, Steel Frame
Listing Agency:
Hartsock Realty
(419) 222-0447
Listed By:
Jeff Dulmage · License #2015002150
(419) 302-3940
Added: Sep 11, 2025
Changed: Oct 2
Last Checked: Oct 6 at 12:06AM
MLS# 308220
Copyright © 2026 West Central Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 18,182-square-foot medical office property is arranged across 7 suites, with exam rooms, private offices, and a reception and waiting area. The building dates to 1920 and has concrete and steel-frame construction. Central air conditioning and forced-air heating serve the space, and the property is ADA compliant. Commercial zoning is in place.
A parking lot provides on-site parking. Mercy Hospital is within walking distance of the property.
A parking lot provides on-site parking. Mercy Hospital is within walking distance of the property.
Key Highlights
- 18,182 square feet of medical office space
- 7 office suites with exam rooms and private offices
- ADA compliant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,402
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,608,040
$4.6M
Cap Rate 7%
$3,291,457
$3.3M
Cap Rate 9%
$2,560,022
$2.6M
Market Conditions
NOI Build-Up for 18,182 SF
Gross rent
$349.1K $19.20/SF
− Vacancy
−$41.9K −$2.30/SF
EGI
$307.2K $16.90/SF
− OpEx
−$76.8K −$4.22/SF
NOI
$230.4K $12.67/SF
Area
Allen County, OH
Vacancy
12.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,608,040
Cap Rate 7%
$3,291,457
Cap Rate 9%
$2,560,022
Alternative Uses
Best Use
Office B
$3.29M
$2.88M – $3.84M
NOI $230,402 @ 7.0% cap · market cap 7.68%
Second Best
Healthcare Medical
$2.93M
$2.56M – $3.42M
NOI $205,038 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$4.38M
$3.83M – $5.11M
NOI $306,557 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Office units
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare layout includes exam rooms, private offices, and a shared reception and waiting area.
Where is this medical office space located?
The property is located at 916-920 W Market Street Lima, OH.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 18,182 square feet of medical office space; 7 office suites with exam rooms and private offices; ADA compliant
