1550 Lewis Center Road, Lewis Center, OH 43035
$1,295,000
Property Type:
Commercial
Square Footage:
7,325
Lot Size (sq. ft.):
17,424
Status:
Active
Current Price:
$1,295,000
List Date:
11/17/2025
Last Modified:
1/20/2026
Overview
Description
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. 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 $104,072 in 2026. With an asking price of $1,295,000, the asset is priced at $177/SF, providing investors with a solid return (8% 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.
Listing Details MLS# 225043256
Location Property Info
- Original List Price
- 1295000
- Property Sub Type
- Mixed Use
- Street #
- 1550
- Street Name
- Lewis Center
- Street Suffix
- Road
- County
- Delaware
- State
- OH
- Zip Code
- 43035
- Township
- Orange
OfficeContract Info
- MLS Entry Date
- 2025-11-17
General Property Info
- Total SqFt Available
- 7325
- Bldg Sq Ft
- 7325
- Max Cont Sqft Avail
- 7325
- Minimum Sqft Avail
- 7325
- # of Docks
- 30
- # of Floors Above Gr
- 2
- Total Parking
- 30
- Year Built
- 1850
- Use Code
- 471 - DWELLING CONVERTED TO RETAIL
- Acreage
- 0.4
Tax Info
- Parcel #
- 318-213-07-002-000
- Mult Parcels/Sch Dis
- No
- Tax Year
- 2025
- Tax Abatement
- No
- Taxes (Yrly)
- 7221
Financials
- Financials ForYearOf
- 2025
- Gross Rental Income
- 131172.42
Auction Info
- Auction/Online Bidding Y/N
- No
More Information
Location & Property Info
- List Price/SqFt
- 176.79
- City (Mailing Addr)
- Lewis Center
- Corp LimitPerAuditor
- None
Office/Contract Info
- For Sale
- Yes
- Exchange
- No
- For Lease
- No
- Lease Rate $/Sq Ft
- 0
Remarks & Misc
- Property Description
- 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. 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 $104,072 in 2026. With an asking price of $1,295,000, the asset is priced at $177/SF, providing investors with a solid return (8% 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.
Income/Expenses
- Gross Income
- 139272
- Net Operating Income
- 104072
- Total Expenses
- 35200
Addl Acceptance Cond
- None Known
- Yes
Expenses Paid by L
- Building Insurance
- Yes
- Janitorial
- Yes
- Repairs
- Yes
- RE Taxes
- Yes
- Utilities
- Yes
T Reimburses L
- Utilities
- Yes
- Curr Yr Est $/SF TRL
- 0
T Contracts Directly
- Janitorial
- Yes
- Repairs
- Yes
Misc Int & Ext Info
- Traffic CountPerDay
- 10000
Heat Fuel
- Gas
- Yes
Water Source
- Public
- Yes
Sewer
- Private Sewer
- Yes
Services Available
- Electricity Available
- Yes
- Natural Gas Available
- Yes
- Water Available
- Yes
Heat Type
- Forced Air
- Yes
New Financing
- Conventional
- Yes
- Other
- Yes
Business Type
- Financial
- Yes
- Professional/Office
- Yes
- Residential
- Yes
- Retail
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
Property Features
Addl Acceptance Cond:
None Known
Expenses Paid by L:
Building Insurance; Janitorial; Repairs; RE Taxes
T Reimburses L:
Utilities
T Contracts Directly:
Janitorial; Repairs
Heat Fuel:
Gas
Heat Type:
Forced Air
Water Source:
Public
Sewer:
Private Sewer
Services Available:
Electricity Available; Natural Gas Available; Water Available
Business Type:
Financial; Professional/Office; Residential; Retail
New Financing:
Conventional; Other
MLS Primary PhotoSrc:
Realtor Provided
Documents
2025 Expenses & Income ›
Upcoming Roof Repair ›
Listing Office:
EXP Realty, LLC
Listing Agent:
Matthew Hance
Last Updated: January - 20 - 2026
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