3819 Shawnee RdLima, OH 45806

Property Details for 3819 Shawnee Rd

Year built

2007

Lot size

1.13 AC

Property size (Sq ft)

9,100 SF

Property type

Retail properties

Property subtype

Retail space

APN

46-2205-03-011.001

APU

46220503011001

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,566,842

  6.5%

  $2,369,393

  7%

  $2,200,150

• Comparable approach

  Method

  Valuation

  Relative Method

  $451,531

  Geo Method

  $451,531

• Alternative Use

  Use

  Valuation

  Residential

  $1,998,672

  Hospitality

  $1,830,772

  Educational

  $1,523,181

  Medical

  $1,575,566

  Retail

  $2,369,393

Location Insight

City

Lima

County

Allen

State

Ohio

Latitude

40.6843

Longitude

-84.1507

CBSA code

30620

CBSA name

LIMA, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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