675 Market StLima, OH 45801

Property Details for 675 Market St

Year built

1961

Lot size

0.88 AC

Property size (Sq ft)

16,216 SF

Property type

Office buildings

APN

36-3608-07-007.000

APU

36360807007000

Description

This exceptional two-story executive office building, located at 675 W Market Street in downtown Lima, Ohio, presents a unique investment opportunity. Boasting 6,438 square feet of Class A office space, this 1961-built structure is constructed of durable block and brick. The property features 17 private offices, four conference rooms equipped with state-of-the-art electronics, four large open workspaces, a high-tech telecommunications room, and two break rooms. Ample parking is provided with 95 enclosed spaces. The building's robust security system ensures peace of mind. Its convenient downtown location places it directly across the street from Mercy Health, offering excellent visibility and accessibility. The property is zoned for commercial use and sits on a parcel identified by APN 36-3608-07-007.000. This fully furnished building is ready for immediate occupancy, offering a turnkey solution for a business seeking a prestigious and well-equipped office space. Detailed specifications and a complete list of features and recent updates are available upon request. The asking price for this exceptional property is $1,349,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,111,603

  6.5%

  $2,872,249

  7%

  $2,667,088

• Comparable approach

  Method

  Valuation

  Relative Method

  $319,293

  Geo Method

  $319,293

• Alternative Use

  Use

  Valuation

  Residential

  $3,561,588

  Hospitality

  $3,262,396

  Educational

  $2,714,275

  Medical

  $2,807,623

  Retail

  $4,222,206

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7393

Longitude

-84.1162

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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