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    FOR LEASE
    Automotive properties

    506 W Market St, Lima, OH 45801

    3,340 SF 0.48 ac lot Built 1949
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US66-1884122
    Property summary
    AI-generated overview

    This exceptional 15,102-square-foot retail space, located at 506 W Market St in Lima, Ohio, presents a unique investment opportunity. Built in 2005, this single-story building sits on a 1.6-acre lot and boasts a highly desirable location within Lima's medical center submarket, ensuring high traffic and visibility. The property is zoned commercial and features ample parking with 150 spaces available. The entire building is currently vacant, offering immediate occupancy for a single tenant. The property's power supply includes 220/440 voltage, suitable for a variety of businesses. Its ideal location makes it suitable for a wide range of uses, including retail stores, medical offices, or service companies. The Allen County location, with APN 36-3608--03-018.001, offers easy access to major roadways and a strong local economy. This property represents a rare chance to acquire a substantial, well-located retail space in a thriving medical center area. The single-tenant occupancy simplifies management and maximizes potential rental income. Don't miss this opportunity to establish your business in a prime location. The property's size and features make it an attractive option for a variety of businesses seeking a prominent presence in Lima, Ohio.

    Property profile
    Verified
    Property type Automotive properties
    Use group VEHICLE SALES, RENTALS
    Year built 1949
    Total area 3,340 SF
    Lot 0.48 ac (20,996 SF)
    APN 37-3108-08-020.000
    UPID US66-1884122
    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
    • Ida M. Mooney, BS Pharmacy
    • Rite Aid Pharmacy Pharmacy
    • Rhonda S. French, RPH Pharmacy
    • Rite Aid Pharmacy
    • Dave's Reliable Motors Auto Repair Shop
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    820 Land Holding LLC · 2 yrs held
    820 Land Holding LLC
    since 2023
    Last sale
    $108,900
    6 recorded transactions
    2023
    $108,900
    2023
    2022
    2018
    2017
    2008
    $159,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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