1293 Pebble Creek Dr Lima, OH 45801
- Commercial real estate
- 4,307 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1293 Pebble Creek Dr
- Year built
- 1986
- Property size
- 4,307 SF
- Property type
- Commercial real estate
- APN
- 36-1303-02-027.009
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lima
- County
- Allen
- State
- Ohio
- Longitude
- -84.126486
- Latitude
- 40.7733795
