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31310136
31149594

11011 Lorain Ave, Cleveland, OH 44111

KM
OH SAL.2015001299
CBRE - Cleveland
JK
OH 2008000837
CBRE - Cleveland
Listed by CBRE - Cleveland
$915,000
293 days on market
Updated 73 days ago

Absolute NNN O'Reilly Auto Investment Sale

Details
APN 018-07-001
Property Type Retail
Sub Type Storefront, Freestanding (+1)
Square Footage 10,346
Units 1
Cap Rate 6.90%
NOI $63,000
Occupancy 100%
Tenancy Single
Brand/Tenant O'Reilly Auto Parts
Lease Type Absolute NNN
Lease Expiration 01/31/2030
Remaining Term 4
Lease Options 1
Acreage 0.690
Investment Type Value Add

#3 out of 15 stores within a 15 mile radius, 86% ranking (Per Placer.ai)

Marketing description

  • Below market rent!

  • 35-year operating history (since 1991)

  • Top 9% of all 228 O'Reilly stores in Ohio (per Placer.ai)

Investment highlights

  • For Sale at $915,000, priced at a 6.9% cap ($63,000 annual rent)

  • Current Lease expires January 31, 2030 with 2 additional 5 year options with $5,000 rent increases per option period (rent increases to $68,000 annual rent in option 1 and $73,000 in option 2)

  • This lease is structured as a NNN lease, Tenant is responsible for all maintenance, including structure, roof and HVAC repair/replacement

  • Long term historical occupancy since 1991 on premises (Murrays Auto) and O’Reilly since 2010

  • Clean Environmental Report (Phase 1 and Phase 2, completed 2026)

  • Located across from West Town Square shopping center and minutes from Target, Giant Eagle, Home Depot and more

  • 10,346 SF Signalized Freestanding Building on .69 AC

  • Dense Market of 164,126 people in a 3 mile radius and daytime population of 131,593

  • High traffic counts of 12,719 VPD (source: ODOT)

Listing Contacts

KM
OH SAL.2015001299
CBRE - Cleveland
JK
OH 2008000837
CBRE - Cleveland
Listed by CBRE - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$63,000.00
$5,250.00/mo

Valuation Metrics

0
DSCR
6.89%
Cap Rate
6.89%
ROI

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Additional Information

Name
Kevin Moss
License
SAL.2015001299
Brokerage Phone
2165771517
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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