1295 4 StOntario, OH 44906

Property Details for 1295 4 St

Year built

1980

Lot size

0.23 AC

Property size (Sq ft)

5,616 SF

Property type

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.

• 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

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