1550 Lewis Center Rd Listing Details & Market Data

Fantastic, income-producing investment opportunity located in developing downtown Lewis Center! Become the proud new owner of a historic package including 2 separate parcels, each currently leased with long-term tenants.

Parcel 318-213-07-001-000 is a .204-acre residential lot which includes a 1,130sqft, ranch-style, single-family home with a newly built patio in 2022. Opportunity to sell separately, rezone to commercial, or further develop.

Parcel 318-213-07-002-000 is a .403-acre commercial lot which includes a 7,325sqft mixed-use retail building. 8 current businesses in place with long-term leases (end dates between 2024 and 2027) and 1 residential 2nd-story studio completely renovated in 2023 to include kitchen, utility room, and full bathroom. Move your own operation into seller’s current office (1,200sqft) on the 2nd floor, or lease to generate additional revenue. Market value per sqft for office space in the area is between $22-$25. With kitchen, utility room, and full bathroom, space could easily be converted into a 2-bedroom apartment. Current studio is generating $22 per sqft.

Large, gravel sitting area added in 2023 to side of building to accommodate Whit’s customers. Provides plenty of seating and parking spaces for bicycles. Owners routinely maintain building and all mechanicals.

Properties are located in historic downtown Lewis Center and connected to multiple neighborhoods by trails and sidewalks. 1.2 miles to Olentangy High School, 1.4 miles to Heritage Elementary School, and 1.9 miles to Shanahan Middle School.

Massive development in the area includes Evan’s Farm (located directly across the street) 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, and Home Road Extension which includes road widening, a bridge overpass connecting Home Road to Lewis Center Road, 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.

Delaware County was the 86th fastest-growing county in the USA by percentage of growth according to the 2020 Decennial Census, and was the No. 1 fastest-growing county in the state of Ohio by percentage of growth from 2010-2020. The median household income in 43035 is $137,781, and Delaware County is $116,284.