For Sale
$725,000

940 Columbus St Kenton, OH 43326

Stable Retail Investment, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
137
This fee-simple retail property in Kenton, Ohio, presents a compelling investment opportunity. The 5,675 square foot storefront is 100% occupied by a credit-rated Advance Auto Parts under a triple-net (NN) lease with a corporate guarantee, extending to December 31, 2034 (10.1 years remaining). The property boasts a strong net operating income (NOI) of $48,912, yielding a 6.75% cap rate on an asking price of $725,000. This translates to a price per square foot of $127.70. The tenant, Advance Auto Parts, recently renewed their lease early, demonstrating a long-term commitment to the location

Highlights

  • 10-Year Lease Renewal: AAP recently extended their lease through December 2034.
  • 25+ Year Tenant History: AAP has occupied the property for over 25 years.
  • Strong Credit Enhancement: AAP's pending $1.5B sale to Carlyle Group improves creditworthiness.
  • Exceptional Value: Below $1M purchase price, 6.75% cap rate, strong tenant, and proven location.
  • New Roof: Recent $40,000 roof replacement minimizes near-term capital expenditures.

Property Details for 940 Columbus St

Property type
Retail properties, Retail space
Square Feet
5,675 SF
Year Built/Renovated
1997/2024
Lot Size (sq. ft)
36,590 SF
Units
1

Location Insight

City
Kenton
County
Hardin
State
Ohio
Latitude
40.6509995
Longitude
-83.5926865

FAQs

What type of property is this?
Retail property - Stable Retail Investment, High NOI
Where is the retail property located?
The property is located at 940 Columbus St Kenton, OH.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 10-Year Lease Renewal: AAP recently extended their lease through December 2034.; 25+ Year Tenant History: AAP has occupied the property for over 25 years.; Strong Credit Enhancement: AAP's pending $1.5B sale to Carlyle Group improves creditworthiness.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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940 Columbus St
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