1550 Lewis Center Road

About this property

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 $1,235,000, the asset is priced at $169/SF, providing investors with a solid return (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.

Highlights

Sewer

Private Sewer

Heating

Forced Air

Stories

2

Utilities

Water Available, Natural Gas Available, Electricity Available

Water Source

Public

Listing Terms

Other, Conventional

Parking Total

30

Lot Size Acres

0.4

Special Listing Conditions

Standard

Location