1295 4 StOntario, OH 44906

  • Retail properties
  • 5,616 SF
For Sale
$880,000 View listing

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
1295 4 St, Ontario, Ohio

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,235
$10,870
$32,670
$43,540
-
$31,070
$93,330
$124,400

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