3292 Elida RdLima, OH 45805

Property Details for 3292 Elida Rd

Year built

2010

Lot size

2.03 AC

Property size (Sq ft)

12,096 SF

Property type

Retail properties

Property subtype

Community centers

APN

36-2202-02-016.002

APU

36220202016002

Description

This exceptional 0.76-acre commercial land parcel presents a unique ground lease opportunity in Allen County. Ideally situated near the intersection of Elida Road and Eastown Road, this site benefits from exceptional visibility and high traffic counts, boasting over 13,600 average vehicles per day (VPD) on Elida Road and over 8,300 VPD on Eastown Road. The property is conveniently located adjacent to a vibrant retail center featuring established businesses such as Chipotle, Five Guys, Verizon, and Aspen Dental, ensuring strong co-tenancy and increased customer traffic. This Meijer-anchored location offers a stable and attractive investment opportunity. The site is suitable for the construction of a building approximately 2,500 square feet, making it perfect for a variety of retail uses. This single-tenant opportunity provides a strong foundation for a successful business venture. The property's prime location and high traffic volume make it an exceptional investment prospect. Don't miss this chance to secure a highly visible and desirable retail location in a thriving commercial area. The site is zoned for commercial use and is ready for development. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $3,411,926

  6.5%

  $3,149,470

  7%

  $2,924,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $600,189

  Geo Method

  $600,189

• Alternative Use

  Use

  Valuation

  Residential

  $2,656,696

  Hospitality

  $2,433,519

  Educational

  $2,024,659

  Medical

  $2,094,290

  Retail

  $3,149,470

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.7705

Longitude

-84.164

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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