885 Delphos AveLima, OH 45801

Property Details for 885 Delphos Ave

Year built

1963

Lot size

0.56 AC

Property size (Sq ft)

6,474 SF

Property type

Retail properties

Property subtype

Auto shops

APN

36-2512-11-005.000

APU

36251211005000

Description

This exceptional 10,410-square-foot industrial building in Lima, Ohio, presents a unique investment opportunity. Located at 885 Delphos Ave, this single-story, Class B property sits on a 0.56-acre lot and boasts a 16-foot ceiling height. Built in 1963 and renovated in 1969, the building is zoned for commercial garages, offering versatile usage potential. The property's adaptable layout includes a reception area and a private office, making it suitable for a variety of businesses. The building's functionality is further enhanced by drive-thru doors, ideal for businesses requiring easy access for vehicles and equipment. With a net rentable area of 10,410 square feet, the asking price is $249,000, translating to $23.92 per square foot. The property's APN is 36-2512-11-005.000, and it is privately owned. This all-purpose flex building is ready for immediate occupancy and presents a compelling opportunity for entrepreneurs and investors alike. Its location in Lima, Allen County, Ohio (zip code 45801) provides convenient access to transportation routes and local amenities. The property's adaptable design and prime location make it an attractive option for a wide range of commercial uses, including distribution, flex space, and manufacturing.

• CAP approach

  CAP return

  Valuation

  6%

  $1,826,125

  6.5%

  $1,685,654

  7%

  $1,565,250

• Comparable approach

  Method

  Valuation

  Relative Method

  $321,232

  Geo Method

  $321,232

• Alternative Use

  Use

  Valuation

  Residential

  $1,421,912

  Hospitality

  $1,302,464

  Educational

  $1,083,634

  Medical

  $1,120,902

  Retail

  $1,685,654

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.747

Longitude

-84.1183

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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