North St. Office | Double-Digit Cap Rate

Starting Bid $250,000

RealINSIGHT Marketplace, in partnership with AQRE Advisors, is pleased to present 125 W North St, Lima, Ohio, a government-anchored office investment with in-place income and near-term upside. The ±11,250 SF building is 88.44% leased, anchored by the State of Ohio's 8,500 SF suite under a lease recently extended six years through 2031 with 2% rental increases every two years, plus a smaller suite occupied by BJ Inspections through 2027. The property generates stable in-place income, further diversified by an on-site 90-plus space parking garage that produces revenue independent of the occupied office suites. A single 1,300 SF vacant suite offers a buyer immediate lease-up upside above the current cash flow. Built in 1981 on ±0.51 acres in Downtown Lima, the asset sits near government offices, courts, and professional employers that anchor consistent tenant demand, with Lima's position at the intersection of I-75 and U.S. Route 30 and a diverse, stable regional economy supporting long-term investment stability.

88.44% Leased, Government-Anchored Asset: State of Ohio occupies 8,500 SF under a lease recently extended six years through 2031.

Built-In 2% Rent Bumps Every Two Years: Scheduled escalations support steady income growth throughout the extended lease term.

90+ Space Parking Garage Adds Income: Garage revenue runs independent of the building's occupied office suites, diversifying cash flow.

A Single 1,300 SF Vacant Suite Remains: One remaining suite offers a buyer immediate lease-up upside in Downtown Lima, Ohio, today.

Auctioneer: Thomas Seaman

Auctioneer License: 2007000016