1381 Bellefontaine StWapakoneta, OH 45895

Property Details for 1381 Bellefontaine St

Year built

1979

Lot size

0.51 AC

Property size (Sq ft)

2,195 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

B07-091-021-00

APU

B0709102100

Description

Exceptional investment opportunity featuring a brand-new, 2024-built Starbucks with a drive-thru in Wapakoneta, Ohio. This 2,300 square foot Class A retail property boasts a 12.1-year remaining lease term (expiring 12/31/2036) with a corporate guarantee from Starbucks, a Fortune 500 company with an S&P investment grade credit rating of BBB+. The property enjoys a prime location on Bellefontaine Street, a major thoroughfare with over 12,000 vehicles daily, providing excellent visibility and accessibility. Its strategic placement near I-75 (37,000+ vehicles per day), Walmart Supercenter, Lowe's, and other national retailers ensures high traffic and customer volume. The 0.72-acre lot is situated within a thriving retail corridor, close to an industrial hub, the Auglaize County Fairgrounds, and numerous schools, further enhancing its appeal and potential for consistent revenue generation. The lease includes 7.5% rent bumps every five years, offering significant long-term growth potential. The property's strong NOI of $177,000 and a 6.45% cap rate make it an attractive investment with a current asking price of $2,744,186 ($1,193.12/sq ft). This is a rare opportunity to acquire a high-performing, net-leased property anchored by a highly reputable tenant in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $619,145

  6.5%

  $571,518

  7%

  $530,696

• Comparable approach

  Method

  Valuation

  Relative Method

  $108,913

  Geo Method

  $108,913

• Alternative Use

  Use

  Valuation

  Residential

  $482,097

  Hospitality

  $441,598

  Educational

  $367,405

  Medical

  $380,040

  Retail

  $571,518

Location Insight

City

Wapakoneta

County

Auglaize

State

Ohio

Latitude

40.5629

Longitude

-84.1746

CBSA code

47540

CBSA name

WAPAKONETA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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