3175 W Elm St Lima, OH 45805

Property Details for 3175 W Elm St

Year built

1985

Lot size

9.69 lot acres

Property size

22,561 SF

Property type

Turn key restaurants

APN

36-3410-02-006.001

APU

36341002006001

Description

This exceptional turnkey opportunity presents the Old Barn Restaurant & Banquet Center, a well-established Lima, Ohio business operating since 1969. Located on a 9.69-acre lot (4.69 acres undeveloped) at 3175 W Elm St, Lima, OH 45805, this property boasts a substantial 30,000 square foot building, built in 1985 and zoned C-1. The property includes a main floor for restaurant operations and a second story offering office space and potential for additional seating. The restaurant features a fully equipped kitchen with two large hoods, five walk-in coolers, and one walk-in freezer. Recent upgrades (2020) include a new patio, new flooring in the dining room, banquet room, and kitchen, and a new bar area. The building is equipped with a fire sprinkler system throughout and nine HVAC units. The current owner, Old Barn Outback Inc., is seeking retirement and has reduced involvement in banquet and wedding sales, presenting a significant opportunity for growth through increased marketing efforts. A one-year training period is available to ensure a smooth transition. The property's 2019 appraisal valued the land and building at $1 million, and annual property taxes are $13,984. The asking price is $1,400,000, with a price per square foot of $46.67. The property currently operates at 100% occupancy with nine units. Parcel number is 36-3410-02-006.001, located in Allen County, Ohio. This is a rare chance to acquire a thriving business with substantial growth potential in a prime location.

Location Insight

City

Lima

County

Allen

State

Ohio

Longitude

-84.1631

Latitude

40.7345

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments