519 Market StLima, OH 45801

Property Details for 519 Market St

Lot size

0.30 AC

Property type

Retail properties

Property subtype

Other car washes

APN

36-3608-08-004.000

APU

36360808004000

Description

This exceptional opportunity presents a well-established car wash business located in the heart of Lima, Ohio. Situated at 519 W Market St, this single-tenancy property boasts a prime downtown location and a substantial history, operating successfully for over 30 years. The 4,500 square foot building, measuring approximately 30 feet by 150 feet, sits on a 0.31-acre lot. Recent improvements include a new metal roof and a gas furnace, ensuring efficient and cost-effective operation. The property includes a small kitchen and waiting area, along with separate men's and women's restrooms, providing ample comfort for customers. The sale includes all business equipment and real estate, offering a turnkey solution for a new owner. The car wash offers full-service capabilities, catering to a wide range of customer needs. This established business, with its long-standing presence in the community and prime location, presents a rare opportunity for a savvy investor seeking a profitable and established enterprise in a thriving downtown area. The property is classified as Retail and Special Purpose, offering a unique blend of commercial and service-based operations. This is a remarkable chance to acquire a successful, long-term business with significant growth potential. The property is located in Allen County, Ohio, with a zip code of 45801.

• CAP approach

  CAP return

  Valuation

  6%

  $3,710,638

  6.5%

  $3,425,204

  7%

  $3,180,547

• Comparable approach

  Method

  Valuation

  Relative Method

  $652,735

  Geo Method

  $652,735

• Alternative Use

  Use

  Valuation

  Residential

  $2,889,288

  Hospitality

  $2,646,572

  Educational

  $2,201,917

  Medical

  $2,277,644

  Retail

  $3,425,204

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7396

Longitude

-84.1112

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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