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    1293 Pebble Creek Dr Lima, OH 45801

    Sponsored
    For Sale
    $785,000

    Exceptional HUD housing, high occupancy.

    Property size:
    4,307 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a single-unit HUD housing property located at 1293 Pebble Creek Dr, Lima, OH 45801. The property, built in 1986, boasts 4,307 square feet of space, currently operating at 100% occupancy as of July 31, 2024. With a permitted zoning for hospital use, this single-story building offers significant potential. The asking price is $785,000, translating to a price per square foot of $182.26 and a compelling cap rate of 8.15%. The property generates a Net Operating Income (NOI) of $64,000 annually. The 14-foot ceilings add to the spacious feel. This property has served as HUD housing for Allen County residents since 1986, with the current Section 8 contract expiring in 2026. The property is in good condition and currently houses seven bedrooms, generating $976 per month per bed. The Allen County location and the strong historical performance make this a highly attractive investment. Further details and supporting documentation are available upon request. APN: 36-1303-02-027.009.

    Property Features for 1293 Pebble Creek Dr

    General Information

    Property type
    Specialty properties
    Square Feet
    4,307 SF

    Building Details

    Year Built
    1986
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • HUD Section 8 contract expires 2026.
    • Property has been a HUD‑subsidized facility since 1986.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.126486
    Latitude
    40.7733795

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    FAQs

    What type of property is this?
    Specialty property - Exceptional HUD housing, high occupancy.
    Where is this specialty property located?
    The property is located at 1293 Pebble Creek Dr Lima, OH.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: HUD Section 8 contract expires 2026.; Property has been a HUD-subsidized facility since 1986.;
    (419) 236-7357
    Request Owner's contact information
    1293 Pebble Creek Dr 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
    1293 Pebble Creek Dr Lima, OH 45801
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