508 Trenton AveFindlay, OH 45840

Property Details for 508 Trenton Ave

Year built

2022

Lot size

0.98 AC

Property size (Sq ft)

2,668 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

210001033077

APU

210001033077

Description

This exceptional investment opportunity presents a fee-simple ownership of a Starbucks located at 508 W Trenton Ave, Findlay, OH 45840. The 2,225 square foot, single-tenant building, constructed in 2023, sits on a 0.97-acre lot and boasts a double drive-thru and outdoor patio. The property benefits from a strong location on a primary retail corridor near I-75 and US Route 224, anchored by a Walmart Supercenter and proximate to the University of Findlay. The current tenant, Starbucks, holds a 10-year net lease (NN) with over 9 years remaining, followed by four 5-year renewal options. The lease includes attractive 10% rent bumps every five years, providing a hedge against inflation. The property generates a substantial net operating income (NOI) of $142,003, resulting in a 6.50% cap rate. The asking price is $2,184,665. Starbucks, with its investment-grade credit rating, ensures a secure and stable investment. The property's strategic location, coupled with the strong demographics (over 40,200 people within a 3-mile radius, average household income exceeding $93,093) and high daily traffic counts (over 21,800 vehicles daily on West Trenton Avenue), contributes to its exceptional investment potential. The property also features a solar canopy, with tenant responsibility for maintenance and repairs. This is a rare opportunity to acquire a high-performing, corporate-guaranteed Starbucks investment property in a thriving Ohio market.

• CAP approach

  CAP return

  Valuation

  6%

  $543,147

  6.5%

  $501,366

  7%

  $465,554

• Comparable approach

  Method

  Valuation

  Relative Method

  $628,903

  Geo Method

  $628,903

• Alternative Use

  Use

  Valuation

  Residential

  $422,921

  Hospitality

  $387,394

  Educational

  $322,307

  Medical

  $333,392

  Retail

  $501,366

Location Insight

City

Findlay

County

Hancock

State

Ohio

Latitude

41.0589

Longitude

-83.6586

CBSA code

22300

CBSA name

FINDLAY, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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