REIT Sale | Former Rite Aid with Drive-Thru | 13K VPD | Signalized Hard Corner

Highlights:

• 14,564 SF Freestanding Former Rite Aid with Drive-Thru on Expansive 1.46 AC Parcel; Built in 2006
• 13,178 VPD Traffic Counts at Signalized Hard Corner (7,232 VPD on W Breese Rd and 5,946 VPD on Shawnee Rd) | 1.5-Mi from I-75 (38K+ VPD)
• Demand Drivers Nearby: CVS directly across street, Apollo Career Center, US Army Recruiting Center, Dollar General, Ace Hardware, Harley-Davidson
• Attractive Demographics with Population of ±46,149 and Average Household Income of ±$79,806 (5-Mile)
• Zoned B-II, Business and Commercial District with a Variety of Commercial Uses
• Absolute $1 Auction – NO RESERVE!

Description:

RI Marketplace Online Auction June 23-25, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2465/reit-sale-former-rite-aid-with-drive-thru-13k-vpd-signalized-hard-corner?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2465

Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing retail building located at 3710 Shawnee Road in Lima, Allen County, OH 45801 (the “Property”). Formerly occupied by Rite Aid, the Property is being offered significantly below replacement cost, creating a compelling opportunity for owner-users or investors to acquire a highly visible, strategically located asset at a substantial discount. FIRST BID MEETS RESERVE!

Constructed in 2006, the Property features a single-story, free-standing retail building totaling ±14,564 square feet, situated on a ±1.46-acre (±63,788 SF) parcel. Key site features include a drive-thru, two curb cuts for ingress/egress, and 60 surface parking spaces. Located at a signalized hard corner directly across from CVS, the Property benefits from excellent visibility with 321’ on Shawnee Rd, strong accessibility, and close proximity to major employment centers and supporting area development. Previously leased to Rite Aid on a NNN basis, the Property presents a value-add opportunity through re-tenanting at current market lease rates (CoStar estimated rents of $11-13/SF NNN retail). Zoned “B-II” Business and Commercial, the site allows for a broad range of retail and commercial uses.

The Property is located in Lima, Ohio, the economic and cultural hub of Allen County and one of the more prominent cities in Northwest Ohio. Positioned at the signalized intersection of Breese Road and Shawnee Road, the site offers excellent visibility and accessibility within one of Lima’s most active commercial corridors. It is just ±1.5 miles from I-75 (±38,647 VPD) and ±11-mi from U.S. Route(s) 30 and 33, providing strong regional connectivity. The immediate area features a mix of service-oriented businesses, national retailers, and industrial users, reinforcing steady daytime traffic. The Property sits directly across from CVS and is proximate to Dollar General, supporting daily needs consumer demand. Key nearby demand drivers include Apollo Career Center (±0.5 mi), the U.S. Army Recruiting Center, Mercy Health – St. Rita’s Medical Center (±5- mi), the University of Northwestern Ohio (±6.5 mi), Downtown Lima (less than 10 minutes), and Lima Allen County Regional Airport (AOH), located ±7 miles from the site. The surrounding 5-mile trade area is home to more than 46,000 residents with an average household income of ±$79,806, and is supported by a diverse regional economy anchored by healthcare, manufacturing, logistics, and education. These fundamentals position the Property well for re-tenanting and long-term investment upside.

Thomas Seaman
Auctioneer
License: 2007000016

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