For Sale
$14,500,000

911 Cable RdLima, OH 45805

High-traffic retail center, strong tenants, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A shopping center, Clocktower Plaza, presents a compelling value-add investment opportunity in Lima, Ohio. The property boasts 237,605 square feet of net rentable space across two single-story buildings situated on an expansive 11.6-acre lot. Currently 88.39% occupied, the center features a diverse tenant mix including nationally recognized brands like Dollar Tree and Planet Fitness. The property is zoned for commercial use and offers significant upside potential through lease-up of the remaining space and rent bumps. Built in 1988 with ongoing renovations, the center benefits from a strong location in a high-traffic retail area. The asking price is $14,500,000, representing a compelling $69.33 per square foot and a 6.75% capitalization rate. The property's Triple Net (NNN) lease structure provides a stable income stream, further enhanced by credit-rated tenants. Two outlots are also available, presenting additional development or leasing opportunities. This is a rare chance to acquire a well-positioned, income-producing asset with substantial growth potential in a thriving market. The Allen County location and the property's APN is 36-2701-01-004.001.

Highlights

  • $14,500,000 asking price for a Class A, 237,605 square foot shopping center in Lima, Ohio.
  • 6.75% cap rate with 88.39% occupancy.
  • Value-add opportunity with strong tenants including Dollar Tree and Planet Fitness.
  • NNN lease type with credit-rated tenants.
  • Located on 11.6 acres with two buildings and two available outlots.
  • $69.33 price per square foot.

Property Details for 911 Cable Rd

Property type
Lifestyle centers, Power centers
Square Feet
237,605 SF
Class
A
Year Built
1988
Buildings
2
Stories
1
Lot Size (sq. ft)
505,296 SF

Location Insight

City
Lima
County
Allen
State
Ohio
Latitude
40.7519991
Longitude
-84.149738
911 Cable Rd, Lima, Ohio

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911 Cable Rd
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