For Sale
$2,744,186

1381 Bellefontaine St Wapakoneta, OH 45895

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
136
Exceptional investment opportunity featuring a brand-new, 2024-built Starbucks with a drive-thru in Wapakoneta, Ohio. This 2,300 square foot Class A retail property boasts a 12.1-year remaining lease term (expiring 12/31/2036) with a corporate guarantee from Starbucks, a Fortune 500 company with an S&P investment grade credit rating of BBB+. The property enjoys a prime location on Bellefontaine Street, a major thoroughfare with over 12,000 vehicles daily, providing excellent visibility and accessibility. Its strategic placement near I-75 (37,000+ vehicles per day), Walmart Supercenter, Lowe's, and other national retailers ensures high traffic and customer volume. The 0.72-acre lot is situated within a thriving retail corridor, close to an industrial hub, the Auglaize County Fairgrounds, and numerous schools, further enhancing its appeal and potential for consistent revenue generation. The lease includes 7.5% rent bumps every five years, offering significant long-term growth potential. The property's strong NOI of $177,000 and a 6.45% cap rate make it an attractive investment with a current asking price of $2,744,186 ($1,193.12/sq ft). This is a rare opportunity to acquire a high-performing, net-leased property anchored by a highly reputable tenant in a desirable location.

Highlights

  • 12-year Starbucks lease with 7.5% rent increases at year 8 and each option period. New 2024 construction with drive-thru.
  • High-traffic retail corridor with over 12,000 vehicles daily. Excellent visibility and I-75 access (37,000+ VPD).
  • Investment-grade tenant (S&P BBB+), Fortune 500 company (#125) with over $35.97 billion in annual revenue.
  • Located on Bellefontaine St, a major thoroughfare in Wapakoneta.
  • Excellent co-tenancy with Walmart Supercenter and Lowe's, plus other national retailers and restaurants.
  • Near Wapakoneta's industrial hub, offering access to a large workforce.

Property Details for 1381 Bellefontaine St

Property type
Retail properties, Restaurants
Square Feet
2,300 SF
Class
A
Year Built
2024
Lot Size (sq. ft)
31,363 SF

Location Insight

City
Wapakoneta
County
Auglaize
State
Ohio
Latitude
40.5629071
Longitude
-84.1746662

FAQs

What type of property is this?
Retail property - High-yield NNN lease, strong tenant.
Where is the retail property located?
The property is located at 1381 Bellefontaine St Wapakoneta, OH.
What is the asking price?
The asking price for this property is $2,744,186.
What are key features of this property?
This property features: 12-year Starbucks lease with 7.5% rent increases at year 8 and each option period. New 2024 construction with drive-thru.; High-traffic retail corridor with over 12,000 vehicles daily. Excellent visibility and I-75 access (37,000+ VPD).; Investment-grade tenant (S&P BBB+), Fortune 500 company (#125) with over $35.97 billion in annual revenue.
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1381 Bellefontaine St
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