1550 Lewis Center Rd, Lewis Center, OH 43035
7,325 SF | 90% Leased | Retail Building | Lewis Center, OH 43035 | $1,325,000 ($181/SF) | 6.25% Cap Rate
For Sale
Active
Asking Price $1,325,000
- Sale Condition
- High Vacancy Property
- Property Type
-
Retail
- Square Feet
- 7,325 SF
- Price / Square Foot
- $181
Listing Contacts
Matthew Hance
Property Overview
Fantastic, income-producing investment opportunity located in developing downtown Lewis Center!
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This 7,325sqft mixed-use commercial building is situated on a prime .403-acre lot with 150ft of frontage along Lewis Center Rd. There are 10 current businesses operating with long-term leases.
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Move your own operation into 1 vacant space located on the 2nd floor: seller’s current office (1,200sqft) which features kitchen, utility room, and full bathroom. Or further lease to generate additional revenue. Market value per sqft for office space in the area is between $25-$30.
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Large, gravel sitting area added in 2023 to side of building to accommodate Whit’s customers. Provides plenty of seating and parking spaces for bicycles. Owners routinely maintain building and all mechanicals.
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Potential to increase gross revenue at 100% occupancy to $145,920 which would equate to a 8.4% cap rate.
*
This 7,325sqft mixed-use commercial building is situated on a prime .403-acre lot with 150ft of frontage along Lewis Center Rd. There are 10 current businesses operating with long-term leases.
*
Move your own operation into 1 vacant space located on the 2nd floor: seller’s current office (1,200sqft) which features kitchen, utility room, and full bathroom. Or further lease to generate additional revenue. Market value per sqft for office space in the area is between $25-$30.
*
Large, gravel sitting area added in 2023 to side of building to accommodate Whit’s customers. Provides plenty of seating and parking spaces for bicycles. Owners routinely maintain building and all mechanicals.
*
Potential to increase gross revenue at 100% occupancy to $145,920 which would equate to a 8.4% cap rate.
Property Details
- Class
- C
- Year Built
- 1850
- Stories
- 2
- Property Subtype
- Freestanding, Storefront
- Lot Size (sq. ft)
- 17,424 SF
Highlights
- Income-producing investment opportunity located in developing downtown Lewis Center!
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