1550 Lewis Center RoadLewis Center, OH 43035

Property Description

Historical building located in the heart of 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 of 11 units currently leased to long-term tenants. 2nd floor office ready to owner-occupy or further rent out. This investment opportunity offers a competitive cap rate and strong in-place income. The property is currently 91% occupied and will generate a projected Net Operating Income (NOI) of $86,488 in 2026. With an asking price of $1,295,000, the asset is priced at $177/SF, providing investors with a solid return (6.7% cap rate) in a prime location.Development in the area includes:Evan's Farm -- a sprawling, unique community which will include 2,200 single-family homes on 1,250 acres along with commercial development along Lewis Center Rd.Jennings Sports Park -- a 56-acre park featuring multi-sport fields with synthetic turf and lights, heated batting cages, and a multi-level pavilion with concessions and restrooms.Home Rd Extension -- traffic improvement which includes road widening, a bridge overpass connecting Home Rd to Lewis Center Rd, and a traffic circle.Most of the surrounding vacant land has either been sold or is currently under contract with plans to develop more subdivisions, apartment complexes, and commercial space.

Property Features