For Sale
$792,565

3819 Shawnee RdLima, OH 45806

High-traffic Lima, OH storefront. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple retail property in Lima, Ohio, offers a compelling investment opportunity. The 9,100 square-foot storefront is leased to Dollar General, a national retailer with a BBB (S&P) investment-grade credit rating and a market capitalization exceeding $20 billion. The property, located at 3819 Shawnee Rd, benefits from a high-traffic location with approximately 14,532 vehicles per day (VPD) and proximity to I-75 (approximately 38,892 VPD). The current lease, a Net Net (NN) agreement, has a remaining term of five years with two five-year options, expiring September 30, 2029. Dollar General recently exercised an early five-year lease extension, showcasing their commitment to this location. The property sits on a 1.13-acre lot and was built in 2007. The asking price is $792,565, representing an attractive 8.50% cap rate with a current Net Operating Income (NOI) of $67,368. Lima, the largest city in Allen County, boasts a population of approximately 45,053 within a five-mile radius. This investment presents a stable, high-return opportunity anchored by a financially strong and essential retailer.

Highlights

  • High-traffic location in Lima, OH, the largest city in Allen County, with a population of approximately 45,053 within a 5-mile radius.
  • Property located on Shawnee Rd. with approximately 14,532 vehicles per day (VPD), one mile from I-75 (approximately 38,892 VPD).
  • Dollar General recently extended its lease by five years, demonstrating strong commitment to the location.
  • Attractive 8.50% cap rate with a stabilized, investment-grade credit tenant (Dollar General, S&P rating BBB).
  • Dollar General, a national retailer with a market capitalization exceeding $20 billion.
  • Dollar General's performance during the COVID-19 pandemic highlights its status as an essential retailer.

Property Details for 3819 Shawnee Rd

Property type
Retail properties, Retail space
Year Built
2007
Lot Size (sq. ft)
49,223 SF

Location Insight

City
Lima
County
Allen
State
Ohio
Latitude
40.6842201
Longitude
-84.1505519
3819 Shawnee Rd, Lima, Ohio

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3819 Shawnee Rd
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