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3121 Clark Ave
Cleveland, OH 44109
O'Reilly Auto Parts · Retail Property For Sale
PROPERTY FACTS
ABOUT 3121 CLARK AVE , CLEVELAND, OH 44109
For sale to qualified investors is the fee-simple interest in a freestanding O’Reilly Auto Parts located on Clark Avenue in Cleveland, Ohio. O’Reilly Auto Parts has been a tenant at this location since 2012 and is currently paying a low rate of $5.65 PSF. This investment is being offered at an attractive 7% cap rate with a corresponding price of $1,049,571 with an average cap rate during the base term of 7.44%. The lease calls for rental increases providing an investor a hedge against inflation. The passive nature of this lease combined with the corporate guaranty (NASDAQ: ORLY) make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment. The surrounding area features strong demographics with approximately 130,829 people within a three mile radius. A few of the nearby retailers include McDonald’s, Burger King, KFC, Walgreens, Dollar General, Family Dollar, Save-A-Lot, Advance Auto Parts, Boost Mobile, Popeyes, Steelyard Commons (featuring: Walmart, Home Depot, Target, Chipotle, Burlington, Marshalls, Taco Bell, Applebee’s, IHOP, Five Guys, Steak ‘n Shake, Party City, Sprint, GameStop, Petco) and many more.
PROPERTY TAXES
| Parcel Number | 007-32-027 | Improvements Assessment | $247,065 |
| Land Assessment | $157,465 | Total Assessment | $404,530 |
PROPERTY TAXES
