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    911 Cable Rd Lima, OH 45805-1751

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    911 Cable Rd Lima, OH 45805-1751

    View on Map
    • Strip malls
    • 99,310 SF
    • 13.49 lot acres
    Off-Market
    Property ID
    US66-2153388
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,180,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar Tree / Grocery & Convenience Store / Food Market
    • Pet Supplies Plus Lima / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • Muscle Mart / (Bike/Boat/Book/etc) Store / Pharmacy

    Property Details for 911 Cable Rd

    Year built
    1988
    Lot size
    13.49 lot acres
    Property size
    99,310 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    36-2701-01-004.001
    APU
    36270101004001

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lima
    County
    Allen
    State
    Ohio
    Longitude
    -84.1496
    Latitude
    40.7527
    CBSA code
    30620
    CBSA name
    LIMA, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $129,526
    $448,560
    $1,707,790
    $2,156,350
    -
    $1,281,600
    $4,879,400
    $6,161,000

    Comparable in this City

    • Value Estimation by Request
      9,425 SF

      707 Cable Rd

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      707 Cable Rd, Lima, OH 45805-1744
      View Details
    • Value Estimation
      $3,240,000
      36,947 SF

      902-914 Cable Rd 914th Mackenzie Dr

      SHOPPING CENTER, STRIP CENTER • 36,947 SF
      902-914 Cable Rd 914th Mackenzie Dr, Lima, OH 45805
      View Details
    • Value Estimation by Request
      0.13 Acres

      927 Cable Rd

      SHOPPING CENTER, STRIP CENTER • 0.13 Acres
      927 Cable Rd, Lima, OH 45805-1747
      View Details
    • Value Estimation by Request
      5,598 SF

      2330 Shawnee Rd

      SHOPPING CENTER, STRIP CENTER • 5,598 SF
      2330 Shawnee Rd, Lima, OH 45805-3887
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      5,311 SF

      435 Eastown Rd

      SHOPPING CENTER, STRIP CENTER • 5,311 SF
      435 Eastown Rd, Lima, OH 45805-2801
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    • Value Estimation by Request
      13,125 SF

      1927 Elida Rd, Unit 1939

      SHOPPING CENTER, STRIP CENTER • 13,125 SF
      1927 Elida Rd, Lima, OH 45805-1514
      View Details

    Similar Nearby for Sale

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    • $178,900
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      Retail Property in Lima, Ohio

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Clocktower Plaza

      Retail spaces available in Lima's Clocktower Plaza shopping center.
      927 N Cable Rd, Lima, OH 45805
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    • Contact for pricing
      1,600 SF

      Retail Space Near Lima Mall

      Retail spaces available near Lima Mall and Elida Road.
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      8,676 SF

      Cable Crossings Retail Space

      Prime Allen County Retail Opportunity
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      Prime Retail Space on Elm

      Versatile retail space with high visibility and ample parking.
      924 E Elm St, Lima, OH 45805
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      Retail Space in High Traffic

      10,000 SF retail space in high-traffic area with ample parking.
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      Former Pharmacy with Drive-Thru

      Former Rite Aid with drive-thru in residential area.
      3230 W Elm St, Lima, OH 45805
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    Lima, OH 45805-1751
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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