1550 Lewis Center Rd
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1550 Lewis Center Rd
7,325 SF 90% Leased Retail Building Lewis Center, OH 43035 £1,039,343 (£142/SF) 6.25% Net Initial Yield
Investment Highlights
- Income-producing investment opportunity located in developing downtown Lewis Center!
Executive Summary
Fantastic, 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. There are 10 current businesses operating with long-term leases.
*
Move your own operation into 1 vacant space located on the 2nd floor: seller’s current office (1,200sqft) which features 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 to accommodate Whit’s customers. Provides plenty of seating and parking spaces for bicycles. Owners routinely maintain building and all mechanicals.
*
Potential to increase gross revenue at 100% occupancy to $145,920 which would equate to a 8.4% cap rate.
*
This 7,325sqft mixed-use commercial building is situated on a prime .403-acre lot with 150ft of frontage along Lewis Center Rd. There are 10 current businesses operating with long-term leases.
*
Move your own operation into 1 vacant space located on the 2nd floor: seller’s current office (1,200sqft) which features 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 to accommodate Whit’s customers. Provides plenty of seating and parking spaces for bicycles. Owners routinely maintain building and all mechanicals.
*
Potential to increase gross revenue at 100% occupancy to $145,920 which would equate to a 8.4% cap rate.
Data Room Click Here to Access
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
7,325 SF
Building Class
C
Year Built
1850
Price
£1,039,343
Price Per SF
£142
Net Initial Yield
6.25%
NOI
£64,955
Percent Leased
90%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.42
Land Acres
0.40 AC
Zoning
C - Dwelling used as retail
Parking
30 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
150 ft on Lewis Center Road
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 318-213-07-002-000 | Improvements Assessment | £59,246 |
| Land Assessment | £12,441 | Total Assessment | £71,687 |
PROPERTY TAXES
Parcel Number
318-213-07-002-000
Land Assessment
£12,441
Improvements Assessment
£59,246
Total Assessment
£71,687
-
Matthew Hance -
eXp Realty
1 of 63
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1550 Lewis Center Rd
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