ADVANCE AUTO PARTS 5819 Cleveland Ave
6,844 SF Retail Building Columbus, OH 43231 $1,125,000 ($164/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- 25+ YEAR OPERATING HISTORY: This location originally opened as a Western Auto Supply store in 1965. Founded in Kansas City
- POWER-CENTER SHADOW ANCHORED: This Advance Auto Parts location is shadowed by the +250,000 SF Columbus Square Power Center which drives local retail
- NATIONAL FORTUNE 500 COMPANY: Advance Auto Parts operates 4,777 stores between the United States and Canada and serve 1,138 independently operated
- PRICED BELOW REPLACEMENT COST: With the cost of construction rising rapidly the last several years, at just under $165 PSF there is significant value
- COLUMBUS MARKET: Columbus is one of the fastest growing and affordable cities in the Midwest with strong employment and drivers such as the new $20B
EXECUTIVE SUMMARY
Broker of Record
Matt Wallace
License No. REC.2022007141 (OH)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
950 Main Ave.,
Suite 510, Cleveland, OH 44113
Matt Wallace
License No. REC.2022007141 (OH)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
950 Main Ave.,
Suite 510, Cleveland, OH 44113
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$72,000
|
$10.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$72,000
|
$10.52
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,844 SF
Building Class
B
Year Built
1997
Price
$1,125,000
Price Per SF
$164
Cap Rate
6.40%
NOI
$72,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.97 AC
Parking
37 Spaces (5.41 Spaces per 1,000 SF Leased)
Frontage
152 FT on Cleveland Ave
AMENITIES
- Pylon Sign
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of October 5, 2024, Advance operated 4,781 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,125 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 010-104541 | Improvements Assessment | $265,860 (2023) |
| Land Assessment | $100,910 (2023) | Total Assessment | $366,770 (2023) |
