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10552960
10602972

205 W Market St, Lima, OH 45801 For Sale

TS
OH BRKP.0000331263-Ohio, 240929-Kentucky (+1)
Superior PLUS Realtors
Listed by Superior PLUS Realtors
$2,950,000
1216 days on market
Updated 49 days ago
Opportunity zone

The Enterprise Building

Details
APN 37-3107-10-001.000 & 37-3107-10-002.001
Property Type Office
Sub Type Creative Office, Executive Office (+1)
Square Footage 32,670
Units 10
Pro-Forma Cap Rate 11.25%
Pro-Forma NOI $331,750
Price per SqFt $90
Broker Co-Op Yes
Class A
Year Built 1920
Year Renovated 1999
Buildings 1
Stories 5
Zoning Offfice/Retail

Office | 32,670 SF

Marketing description

The First Lima Building, with its rock-solid concrete frame structure, was prepared for repurposing in the

late 1990s by being stripped of all inner walls, mechanical, electrical, flooring and windows, from which emerged

The Enterprise Building. New modern HVAC and electrical systems, thermal windows, walls, fire escapes, electronic

monitoring and control options were installed according to modern codes. The building was repurposed as a

modern and safe office building.

Investment highlights

The Enterprise building is favorably located in the center of Downtown Lima. Situated on a one-third acre corner lot,

it is adjacent to the Wingate Hotel and multilevel public parking garage, and Lima’s Civic and

Convention Center. The Enterprise building has easy access to Interstate 75 and major state routes.

Lima’s Downtown offers numerous dining establishments, as well as, new salons,

apartments, shopping and a newly constructed Amphitheater Park.

The Enterprise Building is in the center of the region’s vital Medical industry. St. Rita’s Medical Center

(2200 employees- 5 blocks to the West) and Lima Memorial Regional Health Center (1800 employees- 11 blocks to the East), the brand

new $23 million Rhoades State College – Health Science Campus (1/2 block East) and the Mercy Health’s new Graduate Medical Residents

School ($62 million facility 6 blocksto the west.)

Other local industries, Proctor and Gamble, Ford, General Dynamics ( Military Tanks) and Cenovus Refinery are

expanding as well. Proctor and Gamble is doubling the size of their manufacturing and distribution center.

Lima has just been named by “Site Selection” magazine as “Third in the Nation in Development” for communities under 200,000 of

population.

Lima is on the rebound and the Enterprise Building is ideally positioned.

Listing Contacts

TS
OH BRKP.0000331263-Ohio, 240929-Kentucky (+1)
Superior PLUS Realtors
Listed by Superior PLUS Realtors

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Additional Information

Name
Tim Stanford
License
BRKP.0000331263-Ohio
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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