911 Cable Rd Lima, OH 45805
- Strip malls
- 99,310 SF
- 13.49 lot acres
Current Use by Public Records
- Dollar Tree / Dollar Store / Home Goods Store
- Pet Supplies Plus Lima / Pet Store / Pet Supply Store
- Muscle Mart / Vitamin & Supplements Store
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
- Neighborhood 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 Estimation
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CAP approach
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Comparable approach
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Alternative Use
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
