3230 Elm StLima, OH 45805

Property Details for 3230 Elm St

Year built

2008

Lot size

2.06 AC

Property size (Sq ft)

14,565 SF

Property type

Retail properties

Property subtype

Retail space

APN

36-3407-02-007.000

APU

36340702007000

Description

This exceptional retail opportunity presents a 14,565 square foot former Rite Aid building situated on a 2.06-acre lot in Lima, Ohio. Located at 3230 W Elm St, 45805, this single-tenant property offers significant potential for redevelopment or repurposing. The entire building is currently vacant, providing immediate occupancy for a new tenant. The substantial square footage and expansive land area offer flexibility for a variety of retail uses, potentially including but not limited to, grocery stores, pharmacies, or other large-format retail establishments. The property's prominent location along W Elm St ensures high visibility and accessibility for customers. Its strategic placement within Lima provides access to a substantial consumer base. This is a rare chance to acquire a sizable, well-located retail property in a growing market. The property's size and location make it an attractive investment for businesses seeking to establish a strong presence in the Lima area. Serious inquiries are encouraged to explore the possibilities this prime retail space offers. The property is ready for immediate occupancy and offers a blank canvas for a new business venture. Detailed site plans and further information are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $4,108,358

  6.5%

  $3,792,330

  7%

  $3,521,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $722,698

  Geo Method

  $722,698

• Alternative Use

  Use

  Valuation

  Residential

  $3,198,972

  Hospitality

  $2,930,242

  Educational

  $2,437,926

  Medical

  $2,521,771

  Retail

  $3,792,330

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7373

Longitude

-84.1642

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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