For Sale
$1,840,000

1536 Michigan StSidney, OH 45365

High-return auto parts store, 12-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This freestanding, 6,825 sq ft O'Reilly Auto Parts store in Sidney, Ohio presents a compelling net lease investment opportunity. Boasting a 12-year remaining lease term (15-year initial term) with a corporate guarantee from O'Reilly Automotive Inc. (rated BBB by S&P), this property offers exceptional stability and predictable cash flow. The property, built in 2019, features a modern facade and benefits from a prime location on Michigan Street, experiencing approximately 17,800 vehicles per day, with direct access to I-75. The 0.54-acre lot is surrounded by numerous national retailers, including Walmart, Tractor Supply Co., and a newly constructed Speedway. The lease includes rent bumps of 6% in year 11 and options, further enhancing long-term returns. The current NOI is $110,400, resulting in a 6.00% cap rate and a price per square foot of $269.60. The landlord is responsible for roof and structure maintenance. This is a fee-simple ownership opportunity with a strong tenant and a recession-resistant business model in a high-traffic location. The property's success is further supported by the increasing average age of vehicles on the road, driving demand for auto parts. This investment offers a secure, long-term income stream with significant upside potential.

Highlights

  • Long-Term Lease: 12+ Years Remaining
  • Across from New Speedway Gas Station
  • Recession-Resistant Essential Retail Tenant
  • Investment-Grade Corporate Guarantee (BBB S&P Rating)
  • O'Reilly Auto Parts: Record Financial Performance
  • Modern Building with National Retail Neighbors

Property Details for 1536 Michigan St

Property type
Lifestyle centers, Power centers
Square Feet
6,825 SF
Year Built
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
23,522 SF

Location Insight

City
Sidney
County
Shelby
State
Ohio
Latitude
40.2878964
Longitude
-84.1787045
1536 Michigan St, Sidney, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1536 Michigan St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message