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    911 Cable Rd Lima, OH 45805

    Sponsored
    For Sale
    $14,500,000

    High-traffic retail center, strong tenants, value-add opportunity.

    Property size:
    237,605 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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.

    Property Features for 911 Cable Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    237,605 SF
    Class
    A
    Lot Size
    505,296 SF

    Building Details

    Year Built
    1988
    Buildings
    2
    Stories
    1

    HighLights

    • $14,500,000 asking price for a Class A, 237,605 square foot shopping center in Lima, Ohio.
    • 6.75% cap rate with 88.39% occupancy.
    • Value‑add opportunity with strong tenants including Dollar Tree and Planet Fitness.
    • NNN lease type with credit‑rated tenants.
    • Located on 11.6 acres with two buildings and two available outlots.
    • $69.33 price per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dollar Tree Grocery Store Pet Supplies Plus ... Pet Supply Store Muscle Mart Vitamin & Supplements Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.149738
    Latitude
    40.7519991

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic retail center, strong tenants, value-add opportunity.
    Where is this lifestyle center located?
    The property is located at 911 Cable Rd Lima, OH.
    What is the asking price?
    The asking price for this property is $14,500,000.
    What are key features of this property?
    This property features: $14,500,000 asking price for a Class A, 237,605 square foot shopping center in Lima, Ohio.; 6.75% cap rate with 88.39% occupancy.; Value-add opportunity with strong tenants including Dollar Tree and Planet Fitness.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    911 Cable Rd Lima, OH 45805
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