Lima Ohio Net Lease
2298 Elida Rd, Lima, OH 45805
Net leased investment opportunity in Lima, Ohio.
Type:Retail
Property size:
3,802 SFLot size:
0.29 AcresPrice / SF:
$631/SF- Added:
- Jun 12, 2024
- Days on Market:
- 721
- Last Refresh:
- May 12 at 9:53 pm
Property Features for 2298 Elida Rd
General Information
- Standard status
- Active
- Size
- 3,802 SF
- Lot size
- 0.29 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1996
Listing agent Zach Turner License #OH SAL.2018003592
Listing office Marcus & Millichap - Columbus
Listing date Jun 12, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Columbus
HighLights
- Absolute NNN Lease Structure: Tenant handles all expenses, including roof & structure.
- Long‑Term Lease: Over 10 years remaining on the current term.
- Irreplaceable Real Estate: Located at the busy, hard corner/signalized intersection of Elida Rd & Cable Rd (36,409 VPD).
- Corporate Backed Lease: Signed by Dunkin’s Diamonds, a family‑owned jewelry boutique with 9 locations.
- Outparcel to Kroger (Ruler Foods): Kroger is a strong performer, ranking in the top 25% in Ohio.
- Hedge Against Inflation: Features 5% rental increases every 5 years, including all option terms.
Overview
This net lease investment opportunity is located in Lima, Ohio. The property is currently occupied by Dunkin’s Diamonds, with over 10 years remaining on the current lease term. The tenant is responsible for all expenses, including roof and structure. The location has been operating since 1996, with reinvestments into the space over time. The lease is corporate signed and backed by Dunkin’s Diamonds, a family-owned jewelry boutique with nine locations across Ohio and Florida. The property is located at the hard corner and signalized intersection of Elida Rd & Cable Rd, which sees over 36,409 vehicles per day. It is an outparcel to a Kroger (Ruler Foods) anchored shopping center. The property sits on 0.29 acres and includes 17 parking spaces, with additional spaces available via a shared parking lot. There is minimal competition in the surrounding area, with Dunkin’s Diamonds having the best location in the market. The property has over 365 Google reviews averaging 4.9 stars. The lease includes 5% rental bumps every 5 years, including all four option terms. The property is located in a main retail corridor near Michael’s, Dunham’s Sports, Ruler/Kroger, Old Navy, Hobby Lobby, Ulta, Five Below, Walmart, Planet Fitness, Meijer, Lowe’s, Menards, and an abundance of small shops/restaurants including Panera, Wendy’s, McDonald’s, Arby’s, Tim Horton’s, AT&T, Starbucks, Chipotle, Five Guys, Verizon, and Discount Tire. The population within 1-mile is 4,867, 42,775 within 3-miles, and 66,445 within 5-miles. Lima is the County Seat of Allen County, situated in Northwest Ohio, 80-miles Northeast of Columbus, 72 Miles North of Dayton, 78 Miles Southwest of Toledo, and 63 Miles Southeast of Fort Wayne. The property size is 3,802 square feet.
Property Profile
Location Intelligence
Current Use by Public Records
Lima Plaza
Shopping Center & Mall
Dunkin's Diamonds
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Lima
- County
- Allen
- State
- Ohio
- Longitude
- -84.1466497
- Latitude
- 40.7617762
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Net leased investment opportunity in Lima, Ohio.
Where is this storefront property located?
The property is located at 2298 Elida Rd Lima, OH.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Absolute NNN Lease Structure: Tenant handles all expenses, including roof & structure.; Long‑Term Lease: Over 10 years remaining on the current term.; Irreplaceable Real Estate: Located at the busy, hard corner/signalized intersection of Elida Rd & Cable Rd (36,409 VPD).
