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    215 Lima St Forest, OH 45843

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    215 Lima St Forest, OH 45843

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    • Drive through restaurants
    • 1,161 SF
    • 0.23 lot acres
    For Sale
    $200,000
    View Listing →
    Turnkey Pizza Restaurant Opportunity For Sale
    $200,000
    15,000 SF

    Turnkey Pizza Restaurant Opportunity

    Ready-to-operate pizza restaurant with equipment and drive-thru.

    215 Lima St., Forest, OH 45843
    View Listing
    Property ID
    US66-4855299
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 215 Lima St

    Year built
    1955
    Lot size
    0.23 lot acres
    Property size
    1,161 SF
    Property type
    Drive through restaurants
    APN
    23-120010.0000
    APU
    231200100000

    Description

    This exceptional commercial property located at 215 Lima St., Forest, Ohio 45843, presents a unique investment opportunity. Priced at $300,000, this 15,000 square foot office building is currently set up as a fully operational pizza restaurant, complete with all necessary equipment. The turnkey operation includes a convenient drive-thru window, seating for 10-20 patrons inside, and a comprehensive array of commercial kitchen equipment. This equipment list encompasses an auto-fry deep fryer, a double-deck oven, a commercial dough mixer, ample freezers and coolers, and extensive prep tables. A detailed inventory of the included equipment is available upon request. The property's prime location in Forest, Ohio, offers significant potential for continued success in the food service industry or adaptation for other commercial uses. This is an ideal opportunity for an entrepreneur seeking a ready-to-run business or an investor looking for a strong return. The property is situated at 40.801508 latitude and -83.5096812 longitude in Forest, Ohio, within county 39065. Serious inquiries are encouraged to explore this promising venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Forest
    County
    Hardin
    State
    Ohio
    Longitude
    -83.5097
    Latitude
    40.8015

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $541
    $2,280
    $7,910
    $10,190
    -
    $6,510
    $22,600
    $29,110

    Comparable in this City

    • Value Estimation by Request
      670 SF

      101 Lima St

      DRIVE-THRU RESTAURANT, FAST FOOD • 670 SF
      101 Lima St, Forest, OH 45843
      View Details
    • Value Estimation by Request
      2,334 SF

      18753 County Rd 304

      RESTAURANT • 2,334 SF
      18753 County Rd 304, Forest, OH 45843-8880
      View Details
    • Value Estimation by Request
      4,179 SF

      128 Lima St

      BAR, TAVERN • 4,179 SF
      128 Lima St, Forest, OH 45843-1116
      View Details
    • Value Estimation by Request
      3,500 SF

      216 Lima St

      PARKING GARAGE, PARKING STRUCTURE • 3,500 SF
      216 Lima St, Forest, OH 45843-1118
      View Details
    • Value Estimation by Request
      1,800 SF

      208 Martin St

      LAUNDROMAT (SELF-SERVICE) • 1,800 SF
      208 Martin St, Forest, OH 45843
      View Details
    • Value Estimation by Request
      3,092 SF

      211 Lima St

      RETAIL STORES (PERSONAL SERVICES) • 3,092 SF
      211 Lima St, Forest, OH 45843-1117
      View Details
    View Listing
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    215 Lima St
    Forest, OH 45843
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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