For Sale
$1,712,000

9024 Colerain AveCincinnati, OH 45251

NNN Ground Lease, High-Growth Area

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 15-year NNN ground lease for a Valvoline auto shop located at 9024 Colerain Ave, Cincinnati, OH 45251. The 2,089 square foot building, constructed in 2024, sits on a 0.82-acre lot and boasts a 100% occupancy rate. The lease includes four five-year renewal options, each with a 10% rent increase. This translates to a substantial $95,000 annual net operating income (NOI) and a 5.55% cap rate, based on the $1,712,000 asking price. The property benefits from a corporate guarantee from Valvoline Inc. (NYSE: VVV), minimizing landlord responsibilities. Colerain Avenue is a major north-south arterial and retail corridor in Northern Cincinnati, experiencing high traffic counts (45,939 ADT) and surrounded by strong demographics. Within a one-mile radius, average household income exceeds $93,400, with nearly 5,000 housing units. The location's proximity to major interstates ensures excellent accessibility. This is a low-maintenance, high-return investment with built-in rent growth protection against inflation. The property's APN is 510-0104-0111-00.

Highlights

  • Brand new 15-year NNN ground lease with four, five-year renewal options, each with a 10% rent increase.
  • Zero landlord responsibilities; tenant (Valvoline) handles all property taxes, insurance, and maintenance.
  • Corporate guarantee from Valvoline Inc. (NYSE: VVV), a leading automotive service company.
  • High-traffic location on Colerain Ave., a primary retail corridor in Northern Cincinnati, with 45,939 ADT.
  • 10% rent increases every five years, providing inflation protection and enhanced returns.
  • Strong demographics: Average household income exceeding $93,400 within a one-mile radius, with nearly 5,000 housing units.

Property Details for 9024 Colerain Ave

Property type
Retail properties, Auto shops
Square Feet
2,089 SF
Year Built
2024
Buildings
1
Lot Size (sq. ft)
35,719 SF
Units
1

Location Insight

City
Cincinnati
County
Hamilton
State
Ohio
Latitude
39.235547647434
Longitude
-84.59181293564
9024 Colerain Ave, Cincinnati, Ohio

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9024 Colerain Ave
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