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Property profile & analytics
OFF-MARKET
Estimated value
$4,750,000
Apartment buildings
2650 Market St, Lima, OH 45805-2139
Entity Owned
~
Est. High Equity
Property ID
US66-1573414
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Total area
58,988 SF
Lot
6.48 ac (282,269 SF)
APN
36-3407-01-002.000
UPID
US66-1573414
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
-
ItzUnknwn Music Theater & Performing Art Venue Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.28M
Blend (final)
Blend
$4.75M
Owner & transaction history
Ruby Properties LLC
Ruby Properties LLC
since 2025
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.6M
+24.6%
Office building
$4.4M
+17.6%
Commercial (general)
$4.2M
+11.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,730,000
Current use
RESTAURANT
$4,645,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$4,385,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,155,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$4,010,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$4.75M
Range $4.28M – $5.23M · ±10% · vs last sale $4.46M (Dec 5 2025)
Last sale anchor
$4.46M
Dec 5 2025
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
$81 / 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
$60,497
Tax year 2023
Assessed value
$974,340
Assessed 2023
Previous assessed
$974,340
+0.0% YoY
Effective rate
6.21%
On assessed value
Assessed land
$107,630
Assessed improvement
$866,710
Land market value
$307,500
Improvement market value
$2,476,300
Total market value
$2,783,800
Applied tax rate
208.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1971
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
58,988 SF
Lot
6.48 ac (282,269 SF)
APN
36-3407-01-002.000
UPID
US66-1573414
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
RESTAURANT
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1971
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
6.48 ac
Current owner
From public records · entity-resolved
Ruby Properties LLC
Entity
Mailing address
2650 W MARKET ST, LIMA, OH 45805-2139
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Dec 5, 2025
$4,460,000
Ruby Properties LLC
900 Title Jefferson LLC
Deed
$4,710,000 · Minster Bank
Oct 24, 2024
$4,621,000
Fannie Mae
Sheriff Of Allen County
Deed
related
—
Jul 31, 2019
—
Bcg Mt Vernon LLC
—
Deed
related
$4,355,000 · Hunt Mtg Cap LLC
Jun 30, 2016
—
Pf Mt Vernon LLC
C & F Mt Vernon LLC
Grant Deed
related
$3,300,000 · Greystone Svcg
Jun 11, 2013
$2,267,500
C & F Mt Vernon LLC
Mt Vernon Holdings INC
Warranty Deed
related
$1,944,375 · Citizens Nat'l Bank Bluffton
—
—
Bcg Mt Vernon LLC
—
Deed Of Trust
related
$4,355,000 · Hunt Mtg Cap LLC
—
—
Mt Vernon Holdings INC
—
Deed Of Trust
related
$1,564,555 · Citizens Nat'l Bank Bluffton
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.
Try Rey
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