Retail Development Opportunity
Market Price
2000 Elida Road, Lima, OH 45805
11.13
Cap Rate
150,000
NOI
Details:
Highlights:
- 1500 SF Retail Building with large gravel and paved lot
- Up to 4 acres available for redevlopment
- 2 Blocks from Lima Mall on Elida Road (main retail street)
- All Utilities in Place with Generous Zoning for more Development
- Up to 1600' of Frontage on Elida Road with 5 Curb Cuts
Description:
A rare opportunity for land acquisition 1/4 mile east of the Lima Mall and Walmart. Up to 4 acres of land available on the corner of 309 (Elida Rd) and W Robb Ave. The parcel is in a prime development location and is already zoned for commercial development. There is significant retail within a few miles of the property, including McDonald's and Wal-Mart.
The property is located on Elida Road, the main retail street in Lima, approximately 2 blocks from Lima Mall and Walmart. Lima is the county seat of Allen County, Ohio. It is located in northwestern Ohio along Interstate 75, approximately 72 miles north of Dayton and 78 miles south-southwest of Toledo. According to the 2010 U.S. Census, the Allen County population was 106,331. Lima is home to the campuses of the University of Northwestern Ohio, James A. Rhodes State College and the Ohio State University, Lima Campus.
The Lima Field, first discovered in 1885, has been a functioning oil reserve since its discovery and has been under the control of a number of domestic and international companies. The Lima Army Tank Plant, built in 1941, is the sole producer of M1 Abrams, a third-generation main battle tank produced in the United States. Lima's largest fields of employment are energy and healthcare and it is considered a regional medical center. The city's two hospitals, St. Rita's Medical Center and Lima Memorial Hospital, serve a 10- county area of northwest and central Ohio and employ approximately 5,500 people. Major employers in the Lima area include Ford Motor Co., Lima Engine Plant, General Dynamics Land Systems Division, Roundy's Ohio Division, Dana Corp., Meccorp, Inc., and Meijer, Inc. The Procter & Gamble plant was built in 1968 and the 1.2 million SF distribution center was completed in 2006.
Documents:
| Title | ||
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| Re-Development_Opportunity.pdf |
Location
