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125 W North St 36,096 SF 100% Leased Office Building Lima, OH 45801 $990,000 ($27.43/SF) 9.54% Cap Rate
EXECUTIVE SUMMARY
Great investment opportunity. State agency as long tern tenant. Additional long term tenant. Plus parking garage has 74 rented spaces.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$165,850
|
$4.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$165,850
|
$4.59
|
| Taxes |
$10,540
|
$0.29
|
| Operating Expenses |
$60,883
|
$1.69
|
| Total Expenses |
$71,423
|
$1.98
|
| Net Operating Income |
$94,427
|
$2.62
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $165,850 |
| Annual Per SF | $4.59 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $165,850 |
| Annual Per SF | $4.59 |
| Taxes | |
|---|---|
| Annual | $10,540 |
| Annual Per SF | $0.29 |
| Operating Expenses | |
|---|---|
| Annual | $60,883 |
| Annual Per SF | $1.69 |
| Total Expenses | |
|---|---|
| Annual | $71,423 |
| Annual Per SF | $1.98 |
| Net Operating Income | |
|---|---|
| Annual | $94,427 |
| Annual Per SF | $2.62 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
36,096 SF
Building Class
B
Year Built
1981
Price
$990,000
Price Per SF
$27.43
Cap Rate
9.54%
NOI
$94,427
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
13,673 SF
Building FAR
2.59
Lot Size
0.32 AC
Opportunity Zone
Yes
Zoning
C-1
Parking
90 Spaces (2.49 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- BJ Inspections
- Construction
- 1,450 SF
- -
- Full Service
- -
- State of Ohio
- Administrative and Support Services
- 5,610 SF
- -
- Full Service
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| BJ Inspections | Construction | 1,450 SF | - | Full Service | - | |
| State of Ohio | Administrative and Support Services | 5,610 SF | - | Full Service | - |
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Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 37-31-06-21-003.000 | Total Assessment | $51,210 |
| Land Assessment | $21,140 | Annual Taxes | $10,540 ($0.29/SF) |
| Improvements Assessment | $30,070 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
37-31-06-21-003.000
Land Assessment
$21,140
Improvements Assessment
$30,070
Total Assessment
$51,210
Annual Taxes
$10,540 ($0.29/SF)
Tax Year
2024
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125 W North St
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