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Advance Auto Parts 7440 Broadway Ave 7,000 SF Retail Building Cleveland, OH 44105 $1,125,000 ($160.71/SF) 7.01% Cap Rate
Investment Highlights
- Recent extension of five years on top of existing term
- Rare Lease with tenant responsible for roof, parking lot, HVAC, taxes, and insurance at this location making it ideal for out-of-state investors
- Located in Cleveland, a major metropolitan market in Northeast Ohio, providing a large population base, diverse demographics
- Location averages 31K+ visits annually
- Investment Grade Credit Tenant | Market Cap: 9.6 Billion and a BBBS& P Rating
- Strategically located on Broadway Avenue in Cleveland with an average 18,000+ vehicles per day
Executive Summary
Recent extension of five years on top of existing term
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,000 SF
Building Class
B
Year Built
2005
Price
$1,125,000
Price Per SF
$160.71
Cap Rate
7.01%
NOI
$78,840
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.82 AC
Zoning
SI-C2,Cleveland
Parking
38 Spaces (5.6 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Number | 133-20-024A | Improvements Assessment | $158,725 |
| Land Assessment | $187,530 | Total Assessment | $346,255 |
Property Taxes
Parcel Number
133-20-024A
Land Assessment
$187,530
Improvements Assessment
$158,725
Total Assessment
$346,255
Contacts
-
Deno Bistolarides -
Evan Lyons -
Joe Lopez -
Encore Real Estate Investment Services
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Advance Auto Parts | 7440 Broadway Ave
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