Income-producing investment opportunity located in developing downtown Lewis Center! This 7,325sqft mixed-use commercial building is situated on a prime .403-acre lot with 150ft of frontage along Lewis Center Rd. 10 current businesses operating with long-term leases. Move your operation into 1 vacant space located on the 2nd floor: seller's current office (1,200sqft) which features a kitchen, utility room, and full bathroom. Or further lease to generate additional revenue. Market value per sqft for office space in the area is between $25-$30. Large gravel sitting area added in 2023 to side of building for Whit's customers. Potential to increase gross revenue at 100% occupancy to $145,920 which would equate to a 8.4% cap rate.
MAIL BOX MONEY... Jiffy Lube, True NNN TENANT LEASE term expires 9.30 2029. Three additional 5 year terms extensions. Tenant pay ALL expenses, without limitations. PERFECT investment with 6.67% initial cap first year. Moving to a 7.17% cap with next rent increase starting 10.1.2024. Location off of Polaris Parkway Blvd. High Traffic Count. NDA, PSA Required.
Andrea D. Conner, License BRKP.2017002935, Xome Inc., License REC.2015001703, [email protected], 844-400-XOME (9663), 11427 Read Hartman Hwy, Suite 236, Cincinnati, OH 45241
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Lewis Center is located in Ohio. Lewis Center, Ohio has a population of 26,856. Lewis Center is more family-centric than the surrounding county with 56.64% of the households containing married families with children. The county average for households married with children is 44.19%.
The median household income in Lewis Center, Ohio is $113,466. The median household income for the surrounding county is $100,229 compared to the national median of $57,652. The median age of people living in Lewis Center is 33.3 years.
The average high temperature in July is 85.5 degrees, with an average low temperature in January of 21 degrees. The average rainfall is approximately 39.3 inches per year, with 19.4 inches of snow per year.
