Advance Auto Parts: Port Clinton, OH 2040 E Harbor Rd 6,749 SF Retail Building Port Clinton, OH 43452 $1,465,000 ($217.07/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently-Extended Net Lease with Renewal Options | $1.00 PSF Increase in Each of the Three, 5-Year Renwal Options
- Excellent Access & Visibility | Along East Harbor Rd (15,201 VPD) | Less Than a Mile from OH-2 (12,945 VPD)
- Prime Location Across From Lake Erie | Surrounded by Popular Tourist Attractions
- Long-Term Operating History of 18 Years
- Strategic Location | Outparcel to a Kroger-Anchored Shopping Center | Additional Tenants Include: Kroger Fuel Center, SuperCuts & Peking House Chinese
- 40 Miles West of Toledo, OH | 76 Miles West of Cleveland, OH | Sandusky, OH MSA (MSA Population: 114,326)
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the 6,749-square-foot Advance Auto Parts situated on 1.02 acres in Port Clinton, Ohio — part of the Sandusky, OH MSA (MSA Population: 114,326). Originally set to expire in 2020, Advance Auto Parts’ net lease has been extended twice, demonstrating its commitment to the location. Most recently, the lease was extended early for an additional 9 years through 2034 and now features ±9.8 years of term remaining with a $1.00 PSF increase in each of the three 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,749 SF
Building Class
B
Year Built
2005
Price
$1,465,000
Price Per SF
$217.07
Cap Rate
7%
NOI
$102,550
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.02 AC
Parking
45 Spaces (6.67 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $81,669 | |
| Land Assessment | $425,597 | Total Assessment | $507,266 |
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
Jesse Grant -
CBRE, Inc.
