829 Elm StLima, OH 45804

Property Details for 829 Elm St

Year built

1979

Lot size

0.17 AC

Property size (Sq ft)

1,555 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

37-3108-11-019.000

APU

37310811019000

Description

This exceptional 1,555 square foot office building, located at 829 E Elm St in Lima, Ohio (45804), presents a unique investment opportunity. Built in 1979, the property sits on a 0.174-acre lot and is zoned for commercial use. Priced at $169,000 ($109 per square foot), this building is ideal for a variety of professional uses. Currently configured as an executive or medical office space, the property includes a restrictive covenant prohibiting its use as a dental office. The building is not subject to homeowner's association fees and is not located in a FEMA flood zone. Financing options may include conventional cash purchases. The sale is considered a fair market value transaction. This is a fantastic opportunity to acquire a well-located, established office building in a thriving commercial area of Allen County, Ohio. The property's convenient location and versatile zoning make it an attractive investment for discerning buyers seeking a profitable venture in the Lima market. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $298,381

  6.5%

  $275,428

  7%

  $255,755

• Comparable approach

  Method

  Valuation

  Relative Method

  $30,618

  Geo Method

  $30,618

• Alternative Use

  Use

  Valuation

  Residential

  $341,531

  Hospitality

  $312,841

  Educational

  $260,280

  Medical

  $269,231

  Retail

  $404,880

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7379

Longitude

-84.0928

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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