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902-914 N Cable Rd.
Lima, Ohio OH45805
36,947 sqft
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Facts

Listing ID206624
StatusActive
SqFt 36,947
CountyAllen
Property TypeCommercial

Remarks

Anchored by Dollar General, property is 87% occupied, 38,000+ SF shopping center. Long term tenants are in place, w/long term leases recently executed, thus proving their commitment even further. Almost all of the tenants have been at the building for more than 5 yrs. In the past few months, 4 tenants have renewed at or above previous rents. Over $500k has also been spent on capital improvements within the last year. That coupled with the recent NNN lease renewals, this property presents a perfect fit for a 1031 Exchange. Not only is this a proven asset w/a stabilized cash flow, but there is also a value-add opportunity present by filling the ~5,000 SF vacancy on the rear of the building &/ or executing rent increases. Capital improvements include, but are not limited to, installed a new roof w/ 15-year warranty, front parking lot was repaired, sealed, & striped, replaced rear parking lot asphalt w/brand new concrete, professionally painted all exttrim, facade repair.

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© 2021 West Central Ohio MLS (WCOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of WCOMLS. Real estate listings held by IDX Brokerage firms other than Cowan Realtors are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is deemed reliable but not guaranteed. Listing courtesy of PRODIGY PROPERTIES. Data last updated: Friday, October 22nd, 2021 at 09:39:23 PM.
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