710 Main St Lima, OH 45801
- Retail space
- 3,576 SF
- 0.88 lot acres
Current Use by Public Records
- Greenway Apartments / Apartment Building
- Budget Blinds of Lima & Findlay / Window Treatment Store / Home Improvement Store
- T-SHIRTS & SzUCH / Embroidery Service
Property Details for 710 Main St
- Year built
- 1967
- Lot size
- 0.88 lot acres
- Property size
- 3,576 SF
- Property type
- Retail space
- APN
- 36-1701-01-003.000
- APU
- 36170101003000
Description
Exceptional investment opportunity: Greenway Apartments, a single-story, 9,940 square foot HUD-subsidized property located at 710 N Main St, Lima, OH 45801. This 1-unit building, constructed in 1993, boasts a 100% occupancy rate as of July 31, 2024, generating a substantial Net Operating Income (NOI) of $74,000 and an attractive 8.74% capitalization rate. The asking price is $847,000, translating to $85.21 per square foot and $847,000 per unit. The property features a 12-foot ceiling height and is zoned for hospital use. The Allen County property (APN: 37-3012-10-024.000) is part of a larger portfolio of HUD housing units available for sale. The current HUD Section 8 contract extends through 2033. This property presents a strong cash flow opportunity for investors seeking a stable, income-producing asset in a well-established location. Detailed financial information is available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lima
- County
- Allen
- State
- Ohio
- Longitude
- -84.1897
- Latitude
- 40.7817
- CBSA code
- 30620
- CBSA name
- LIMA, OH METROPOLITAN STATISTICAL AREA
