911 Cable RdLima, OH 45805

Property Details for 911 Cable Rd

Year built

1988

Lot size

13.49 AC

Property size (Sq ft)

99,310 SF

Property type

Retail properties

Property subtype

Strip malls

APN

36-2701-01-004.001

APU

36270101004001

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $28,012,428

  6.5%

  $25,857,626

  7%

  $24,010,652

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,927,643

  Geo Method

  $4,927,643

• Alternative Use

  Use

  Valuation

  Residential

  $21,811,874

  Hospitality

  $19,979,560

  Educational

  $16,622,760

  Medical

  $17,194,442

  Retail

  $25,857,626

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7527

Longitude

-84.1496

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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