205 W Market St - Office FOR SALE


Lima, OH 45801
$2,950,000 USD
567-371-6799
205 W Market St, Lima, OH for Sale
$2,950,000 USD
Office - FOR SALE
1/44
null | 11% Cap Rate

205 W Market St
Lima, OH 45801


HIGHLIGHTS

  • Enterprise Building is a historic and recognizable office building spanning 30,000 square feet with turnkey suites in the heart of Lima.
  • Join Lima’s diverse economy, including PPG, Range Kleen, Mercy Health, and the Ford Lima Engine Plant, which produces 36% of the F-150 engines.
  • Within a 15-minute walk of over a dozen eateries, Lima City Council, Lima Municipal Court, the YMCA, and St. Rita’s Medical Center.
  • Lima is a desirable office market - vacancy decreased by 0.3% while the national average increased by 1.1% since 2023 began.
  • Newly constructed Rhodes State College Medical Education building is only one block away.

OVERVIEW

The Enterprise Building at 205 W Market Street is a historic and recognizable office building presenting a value-add or owner/user opportunity. The five-story, 30,000-square-foot building comprises an array of move-in-ready suites for quick occupancy turnarounds. The property is a mile from a district headlined by St. Rita’s Medical and Memorial Hospital, making it ideal for businesses that support the medical field to cash in on a location central to Lima's entire population. Additionally, the property is across the street from the Wingate Hotel and a four-story parking garage. The Enterprise Building is within a 15-minute walk of The Meeting Place on Market, Kewpee Hamburgers, Zinum 12, The Met, Our Town Roast, Joey’s Subs, and Old City Prime, providing access to dining options and proximity to a number of the city’s newest developments. These developments showcase Lima’s meteoric rise as the fourth fastest-growing city in the region and some of the city's significant investments totaling over $100 million in recent years. The building also offers convenient access to Interstate 75, which runs north and south, and direct access to N West Street/Route 65, the area’s main thoroughfare. The Enterprise Building is the perfect destination for businesses or investors searching for a well-positioned building minutes from an established medical district in the heart of Lima.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$90 USD /SF

CAP RATE

11%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Enterprise Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

C

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

Office/Retail

APN/PARCEL ID

37-31-07-10-001.000,37-31-07-10-002.001

ASK ABOUT THIS PROPERTY

Bill WalterWalter Development EnterprisesMore Info
567-371-6799

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Bill WalterWalter Development EnterprisesMore Info
567-371-6799

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.