1295 4 StOntario, OH 44906
- Retail properties
- 5,616 SF
Property Details for 1295 4 St
- Year built
- 1980
- Lot size
- 0.23 AC
- Property size (Sq ft)
- 5,616 SF
- Property type
- Retail properties
- Property subtype
- Other car washes
- APN
- 027-03-072-16-001
- APU
- 270307216001
Description
This exceptional investment opportunity presents a 2,000 square foot, fully remodeled Castrol Premium Lube Express in Ontario, Ohio. Located at 1295 W 4th St, 44906, this single-tenant, net-lease property boasts a 15-year absolute NNN lease commencing December 15, 2024, and expiring December 31, 2039. The lease includes a robust corporate guarantee and annual rent increases of 1.5%, further securing your return. The property sits on a 0.236-acre lot and features a modern design, perfectly suited for its current use. With a current Net Operating Income (NOI) of $75,000 and an asking price of $880,000, this property offers a compelling 8.52% cap rate. The building underwent a complete renovation in 2024, ensuring its pristine condition. The lease includes two 15-year renewal options, providing long-term stability and predictable income. This prime location in a busy commercial area, near major retailers like Kohl's, CVS, and Kroger, ensures high visibility and consistent customer traffic. The property's strong tenant, a growing owner/operator with expansion plans, adds further confidence to this investment. This is a 100% occupied property, making it an ideal addition to any portfolio. The property is developer-owned and presents a straightforward transaction.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,554,932
- 6.5%
- $1,435,322
- 7%
- $1,332,799
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,323,808
- Geo Method
- $1,323,808
-
Alternative Use
- Use
- Valuation
- Residential
- $1,210,748
- Hospitality
- $1,109,039
- Educational
- $922,707
- Medical
- $954,441
- Retail
- $1,435,322
Location Insight
- City
- Ontario
- County
- Richland
- State
- Ohio
- Latitude
- 40.7673
- Longitude
- -82.5618
- CBSA code
- 31900
- CBSA name
- MANSFIELD, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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