For Sale
$732,000

134 Woodland Ave Youngstown, OH 44502

18,089 SF FleetPride Net Lease, 10.5 Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 18,089-square-foot industrial property in Youngstown, Ohio, currently leased to FleetPride under a Net Lease agreement. The property, located at 134 E Woodland Ave, boasts a highly favorable lease structure with a remaining term of 10.5 years, extending to May 31, 2035. FleetPride, a national leader in heavy-duty truck and trailer parts distribution, with over 270 branches and 35 service centers, has occupied this location for over 40 years, recently renewing their lease for an additional 10 years starting June 2025. This demonstrates their long-term commitment to this strategically important location. The building, constructed in 1939 and renovated in 2019, features an efficient layout maximizing functionality and space utilization. Its prime location, just one minute from I-680, ensures easy access to major transportation routes, optimizing logistics and distribution. The property generates a strong net operating income (NOI) of $60,381, resulting in an attractive 8.25% cap rate. The lease includes a 3% annual rent increase and a single 5-year renewal option. This offering presents a rare opportunity to acquire a stable, high-performing asset with a long-term, creditworthy tenant in a prime location. The property's exceptional tenancy history and strategic location make it an ideal investment for long-term growth and passive income.

Highlights

  • $732,000 asking price for this Net Leased industrial property.
  • 18,089 square foot distribution/warehouse with a 10.5-year lease remaining to FleetPride, expiring 5/31/2035.
  • 8.25% cap rate based on a $60,381 annual Net Operating Income (NOI).
  • Excellent I-680 access in Youngstown, OH, providing strong logistics advantages.
  • Strong national tenant, FleetPride, with a 40+ year history at this location and a recently executed 10-year lease extension.

Property Details for 134 Woodland Ave

Property type
Warehouses, Industrial properties
Square Feet
15,000 SF
Year Built/Renovated
1939/2019

Location Insight

City
Youngstown
County
Mahoning
State
Ohio
Latitude
41.0934579
Longitude
-80.6520512

FAQs

What type of property is this?
Warehouse - 18,089 SF FleetPride Net Lease, 10.5 Years Remaining
Where is the warehouse located?
The property is located at 134 Woodland Ave Youngstown, OH.
What is the asking price?
The asking price for this property is $732,000.
What are key features of this property?
This property features: $732,000 asking price for this Net Leased industrial property.; 18,089 square foot distribution/warehouse with a 10.5-year lease remaining to FleetPride, expiring 5/31/2035.; 8.25% cap rate based on a $60,381 annual Net Operating Income (NOI).
How can I contact the broker?
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134 Woodland Ave
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