CR 145 Kenton OH 43326

Investor-ready tri-plex with solid cash flow in the heart of Kenton. This three-unit property features each with functional layouts, off-street parking, and a mix of modern updates. Unit 204 N High offers a cozy one-bedroom with a new floor, small kitchen, propane wall and baseboard heat, and a back patio. The 405 E Carroll unit has two bedrooms upstairs, a living/dining area, kitchen with stove, and new windows, while 405½ E Carroll provides two bedrooms upstairs, full kitchen with appliances, and solid floors throughout. Washer/dryer hookups and electric or tenant-paid water utilities vary by unit. Additional features include a detached one-car garage with a metal roof and convenient off-street parking for all units. Gas furnaces serve two units. Located near shopping, restaurants, and city amenities, this property presents an immediate income opportunity for investors. Call today for your appointment!

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the brand-new, single-tenant O’Reilly Auto Parts location in the desirable community of Kenton, Ohio. The property is being offered for $1,942,500, representing a 5.25% CAP Rate and was just built to accommodate O’Reilly Auto Parts, who hand-picked this particular location for its continued expansion in Western Ohio. O’Reilly’s is the leading automotive parts provider with over 5,300 stores in 47 states, and their continued growth can be evidenced by their $9.48 billion in annual revenue in 2018, which is up from $8.9 billion in 2017 revenue. The company also has a market cap of over $30 billion and has 80,000 employees worldwide. O’Reilly’s boasts investment grade credit with an S&P rating of “BBB” and a Moody’s rating of “Baa1,” both the strongest rating of all the automotive part retailers.

O’Reilly’s lease commenced 1/2/2019 on a 20-year NNN structure with a mid-term rental increase. The lease also offers 6% rental increases in each option period and O’Reilly handles most common area maintenance items directly, leaving the owner with minimal daily management responsibilities. The roof also has a 25-year transferrable warranty.

With excellent visibility and prominent pylon signage, the asset also benefits from surrounding complimentary retailers, specifically high-traffic generators Dollar Tree, Kroger, Kroger Fuel, Walmart Supercenter, Arby’s, GameStop, McDonald’s, Burger King, KFC, Tractor Supply, Dollar General, further enhancing traffic flow around the featured property. The property also sits across from Kenton High School and Kenton Middle School adding a daily flurry of activity near the asset. The retail corridor is surrounded by an ideal residential community with average household incomes over $53,000 within a 5-mile radius and draws from a wide radius as the next closest auto parts store outside of Kenton is located nearly 16 miles away in any direction.

The O’Reilly Auto Parts is positioned in a desirable location directly off SR-67 (E. Columbus Street), one of the main thoroughfares through Kenton and is almost a midway point between Columbus (approximately 57 miles) and Toledo (70 miles). Kenton’s largest employer is the International Paper Company, with 740 employees and is located just 3 miles from the property. Ohio Health Hardin Memorial Hospital with 220 employees is also located less than 1-mile from the featured property. Additionally, residents commute to Ada and Findlay for other major surrounding employment, including Ada Technologies, who employs 500 people, Wilson Sporting Goods with 140 employees and Ohio Northern University (16 miles) with over 650 employees and nearly 3,100 students. The University of Findlay has enrollment of approximately 4,200 students and a faculty/staff of 640, Blanchard Valley Regional Hospital employs nearly 1,730 people, the headquarters of the Cooper Tire & Rubber Company (2,215 employees), Marathon Petroleum Company with 2,200 employees, Whirlpool Dishwasher Manufacturing and Distribution (nearly 2,400 employees), Best Buy Distribution, Kohl's Distribution (510 employees) and Lowes Distribution (600 employees) are all located in Findlay, approximately 29 miles north. Bundling all of the attributes, this new O’Reilly location provides an investor the opportunity to purchase an investment grade tenant in a desirable location with quality brand-new construction and excellent visibility and curb appeal that is poised to be a quality, long-term performer well into the future.