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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Flex space
1801 Reservoir Rd, Lima, OH 45804-2945
Entity Owned
10-yr Hold
Free & Clear
Property ID
US66-2563195
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1992
Total area
15,592 SF
Lot
27.37 ac (1,192,237 SF)
APN
37-3200-01-001.000
UPID
US66-2563195
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nelson Packaging Company, Inc. Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$877k
Blend (final)
Blend
$975k
Owner & transaction history
Faza LLC · 10 yrs held
Faza LLC
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+172.3%
Office building
$1.2M
+157.1%
Commercial (general)
$1.1M
+143.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lima submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lima submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
RESTAURANT
$1,230,000
Change: +172% · Conversion: Difficult
OFFICE BUILDING
$1,160,000
Change: +157% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,100,000
Change: +143% · Conversion: Difficult
MEDICAL BUILDING
$1,060,000
Change: +135% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$985,000
Change: +119% · Conversion: Difficult
RETAIL STORES
$900,000
Change: +100% · Conversion: Moderate
AUTO REPAIR, GARAGE
$765,000
Change: +70% · Conversion: Easy
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$63 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$204,175
Tax year 2023
Assessed value
$4,268,920
Assessed 2023
Previous assessed
$4,268,920
+0.0% YoY
Effective rate
4.78%
On assessed value
Assessed land
$86,000
Assessed improvement
$4,182,920
Land market value
$245,700
Improvement market value
$11,951,200
Total market value
$12,196,900
Applied tax rate
202.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1992
Heating
SPACE
Buildings
8
Stories
1
Total area
15,592 SF
Lot
27.37 ac (1,192,237 SF)
APN
37-3200-01-001.000
UPID
US66-2563195
Jurisdiction
ALLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$985,000
RETAIL STORES
Est. value
$900,000
AUTO REPAIR, GARAGE
Est. value
$765,000
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
SPACE
Stories
1
Buildings
8
Lot
27.37 ac
Current owner
From public records · entity-resolved
Faza LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1801 RESERVOIR RD, LIMA, OH 45804-2945
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2024
—
Faza LLC
—
Deed
related
$7,500,000 · The Citizens National Bank Of Bluffton
Jun 12, 2017
—
Faza LLC
—
Grant Deed
related
$4,500,000 · Citizens Nat'l Bk/bluffton
Nov 12, 2015
—
Faza LLC
Faza,issam & Sharon
Quit Claim Deed
related
—
Apr 21, 2015
—
Issam Faza
—
Deed Of Trust
related
$5,000,000 · Citizens Nat'l Bk/bluffton
Aug 26, 2011
$7,231
Board Of Commissioners/allen Coun
Faza,issam
Warranty Deed
—
Aug 26, 2011
$1,620
Department Of Transportation
Faza,issam & Sharon
Warranty Deed
related
—
Oct 27, 1997
$705,500
Issam Faza
Nelson,joyce
Grant Deed
$350,000 · Citizens National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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