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Listed by Scott Parsons CCR Realtors
$ 689,000
Est. payment | /mo
6 Baths
5,160 SqFt
$ 689,000
Est. payment | /mo
6 Baths
5,160 SqFt
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 5,160 sqft
Price per Sqft $133
MLS Listing ID 311570
Year Built 1916
Property Sub-Type Business
Source West Central Association of REALTORS® (OH)
Land Area 5160
Property Description
The corner of what's coming.
Downtown Lima is in the middle of something real. A $10 million state grant is actively funding the redevelopment of Memorial Hall -- the 1908 Beaux-Arts landmark directly across the street -- with a $25 million boutique hotel concept currently in schematic design phase, with a decision expected in 2026. The valet entrance and primary guest arrival is planned to face South Elizabeth Street. This is not speculation. This is a publicly funded, actively planned anchor project with committed state capital behind it.
222 S. Elizabeth is positioned at the center of this transformation.
Three commercial storefronts with prominent visibility and off-street parking in a market where that combination is increasingly scarce, and three residential apartments above. Built in 1916 on 0.177 acres with a new roof (2023), new HVAC (2023), and a freshly paved parking lot (2022), the capital-intensive work is done.
But the real story is what surrounds it.
Within one block: the new Allen County Administration Building (completing 2026). Within two blocks: Spring & Main, the civic core, and the DORA entertainment district encompassing 113 acres of the central business corridor. The area delivered a $4.3 million multi-building revitalization in 2024 celebrated by Governor DeWine, and Lima/Allen County ranked 4th in the nation for qualifying business investment projects in 2025.
Three high-visibility storefronts. Private parking. Direct sightlines to a $25 million hospitality anchor. DORA zone. Historic district adjacency. This is the kind of position that sophisticated investors spend years trying to manufacture.
It already exists at 222 S. Elizabeth.
Appointment required. 24-hour notice for residential units.
Downtown Lima is in the middle of something real. A $10 million state grant is actively funding the redevelopment of Memorial Hall -- the 1908 Beaux-Arts landmark directly across the street -- with a $25 million boutique hotel concept currently in schematic design phase, with a decision expected in 2026. The valet entrance and primary guest arrival is planned to face South Elizabeth Street. This is not speculation. This is a publicly funded, actively planned anchor project with committed state capital behind it.
222 S. Elizabeth is positioned at the center of this transformation.
Three commercial storefronts with prominent visibility and off-street parking in a market where that combination is increasingly scarce, and three residential apartments above. Built in 1916 on 0.177 acres with a new roof (2023), new HVAC (2023), and a freshly paved parking lot (2022), the capital-intensive work is done.
But the real story is what surrounds it.
Within one block: the new Allen County Administration Building (completing 2026). Within two blocks: Spring & Main, the civic core, and the DORA entertainment district encompassing 113 acres of the central business corridor. The area delivered a $4.3 million multi-building revitalization in 2024 celebrated by Governor DeWine, and Lima/Allen County ranked 4th in the nation for qualifying business investment projects in 2025.
Three high-visibility storefronts. Private parking. Direct sightlines to a $25 million hospitality anchor. DORA zone. Historic district adjacency. This is the kind of position that sophisticated investors spend years trying to manufacture.
It already exists at 222 S. Elizabeth.
Appointment required. 24-hour notice for residential units.
Location
State OH
County Allen
Zoning Commercial
Body of Water Public
Interior
Heating Forced Air
Cooling Central Air
Flooring Vinyl, Carpet, Ceramic Tile
Exterior
Parking Features Off Street, Parking Lot
Roof Type Rubber
Road Frontage City Street
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Nearby Locations
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Shaun & Megan Richardson
REALTOR® Lic# 2016001186 | Lic# 2024004146