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Advance Auto Parts: South Euclid, OH 4105 Mayfield Rd 11,679 SF Retail Building South Euclid, OH 44121 $1,546,930 ($132.45/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Recently-Extended Net Lease with Renewal Options | 7% Rent Increase in Each of the Three, 5-Year Renewal Options
- Proven Location | Among the Top 9% of Advance Auto Parts Stores in Ohio | Top 16% of Stores Nationwide by Visits (Placer.ai)
- Primary Retail & Commercial Corridor | 9.6 MSF Retail, 3.4 MSF Office, 6.4 MSF Industrial & 14,013 Multifamily Units Within a 3-Mile Radius
- Long-Term Operating History of 19 Years
- Excellent Access & Visibility Along Mayfield Road (26,922 VPD) | Feet From Signalized Intersection with Warrensville Center Road (19,600 VPD)
- 8 Miles East of Downtown Cleveland | Cleveland-Elyria, OH MSA Advantage (MSA Population: 2.01M+)
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the 11,679-square-foot Advance Auto Parts situated on 0.80 acres in South Euclid, Ohio — part of the Cleveland-Elyria, OH MSA (MSA Population: 2.01M+). Originally set to expire in 2013, Advance Auto Parts has exercised one renewal option and its 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 7% rent increase in each of the three 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,679 SF
Building Class
B
Year Built
1941
Price
$1,546,930
Price Per SF
$132.45
Cap Rate
7.50%
NOI
$116,020
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.80 AC
Zoning
C2, Cleveland
Parking
39 Spaces (3.34 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 702-05-020 | Improvements Assessment | $420,035 |
| Land Assessment | $71,820 | Total Assessment | $491,855 |
PROPERTY TAXES
Parcel Number
702-05-020
Land Assessment
$71,820
Improvements Assessment
$420,035
Total Assessment
$491,855
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
Christopher Prosser -
CBRE, Inc.
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Advance Auto Parts: South Euclid, OH | 4105 Mayfield Rd
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