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Advance Auto Parts: Cuyahoga Falls, OH 2249 State Rd 6,796 SF Retail Building Cuyahoga Falls, OH 44223 $1,559,600 ($229.49/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently-Extended Net Lease with Renewal Options | $1.00 PSF Rent Increase in Each Option
- Hard Corner Signalized Intersection Location | North Haven Blvd & State Road (16,576 VPD) | Less Than 2 Miles from OH-8 (90,633)
- Substantial Built-In Customer Base | Surrounded by Over 5,800 Households Within a 1-Mile Radius
- Long Term Operating History of 19 Years
- 7.4 MSF Retail, 2.1 MSF Office, 8.6 MSF Industrial & 9,825 Multifamily Units Within a 3-Mile Radius
- Less Than 5 Miles North of Dowtown Akron | Akron, OH MSA Population (697,418)
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to announce for sale the 6,796-square-foot Advance Auto Parts situated on 0.68 acres in Cuyahoga Falls, Ohio — part of the Akron, OH MSA (MSA Population: 697,418). Originally set to expire in 2019, 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 8 years through 2034 and now features ±9.2 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
6,796 SF
Building Class
B
Year Built
2004
Price
$1,559,600
Price Per SF
$229.49
Cap Rate
7.50%
NOI
$116,970
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.23
Lot Size
0.68 AC
Parking
33 Spaces (4.86 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-20024 | Improvements Assessment | $122,738 |
| Land Assessment | $98,406 | Total Assessment | $221,144 |
PROPERTY TAXES
Parcel Number
02-20024
Land Assessment
$98,406
Improvements Assessment
$122,738
Total Assessment
$221,144
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
Christopher Prosser -
CBRE, Inc.
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Advance Auto Parts: Cuyahoga Falls, OH | 2249 State Rd
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