432 Main StGrafton, OH 44044

Property Details for 432 Main St

Lot size

1.05 AC

Property size (Sq ft)

3,444 SF

Property type

Retail properties

Property subtype

Banks

APN

11-00-099-000-425

APU

1100099000425

Description

This exceptional investment opportunity presents a newly constructed, 2,400-square-foot Taco Bell restaurant in Grafton, Ohio, situated on a 1.05-acre lot. The property boasts a 20-year absolute triple-net (NNN) ground lease with a strong franchisee tenant (operating 250+ units) guaranteeing consistent income. The lease includes 10% rent increases every five years, providing inflation protection and growing net operating income (NOI). Located on a major thoroughfare (State Highway 57) with 10,000 vehicles passing daily, this property benefits from high visibility and convenient access. The strategic location near schools and other retail establishments, including a McDonald's, ensures strong tenant synergy and a robust customer base. The property's drive-thru further enhances customer convenience. With a current NOI of $112,000 and a 6.00% cap rate, this offering presents a compelling return on investment. The property is zoned for general business (GB) and is part of a thriving retail corridor serving a population of over 34,700 residents and 7,000 employees within a 5-mile radius, boasting an average household income of $95,066. The asking price is $1,867,000, with a price per square foot of $777.92. The property's APN is 11-00-099-000-425. This is a leased fee ownership opportunity, meaning the land is owned outright, eliminating landlord responsibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $959,741

  6.5%

  $885,915

  7%

  $822,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $811,822

  Geo Method

  $811,822

• Alternative Use

  Use

  Valuation

  Residential

  $747,303

  Hospitality

  $684,525

  Educational

  $569,517

  Medical

  $589,103

  Retail

  $885,915

Location Insight

City

Grafton

County

Lorain

State

Ohio

Latitude

41.2849

Longitude

-82.0634

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].