8301 Colerain Ave - Car Washes FOR SALE


Cincinnati, OH 45239- Groesbeck
$4,423,000 USD
415-610-5230
8301 Colerain Ave, Cincinnati, OH for Sale
$4,423,000 USD
Car Washes - FOR SALE
1/3
null | 7% Cap Rate

8301 Colerain Ave
Cincinnati, OH 45239
Groesbeck


HIGHLIGHTS

  • High Visibility Parcel with Excellent Traffic Counts
  • Strong Surrounding Demos
  • Optimal Synergies with Surrounding Anchors
  • Landlord Friendly NNN Lease
  • Convenient for Out-of-State Owners

OVERVIEW

Northmarq is pleased to offer for sale the fee simple interest in this ZIPS Car Wash property located in Cincinnati, Ohio (“The Property”). The Property consists of a 3,600-square-foot freestanding retail building on a 0.91-acre parcel of land. The tenant is operating under an absolute NNN lease with zero landlord operating responsibilities and over ten years remaining. The lease features 1.5% rental escalations annually throughout the base term. Additionally, the lease apportions all land, improvements, and significant equipment to the landlord position, maximizing the available depreciation benefit. See Lease Abstract for details. The Property is located in Cincinnati, Ohio, the third largest city in Ohio, with a metropolitan population of 2.2 million. Located directly on Colerain Ave, the primary North/South commercial corridor serving Cincinnati’s Near-North suburbs, the Property benefits from visibility to ±38,000 vehicles per day and excellent access to Ohio Rte 126. An ideal anchor for an express car wash, Walmart Supercenter is conveniently adjacent to the Property. Customers can efficiently accomplish two errands in one place. The Property also benefits from strong demographics with a surrounding household income of more than $80k per year. The Tenant, ZIPS Car Wash, is a leading car wash brand currently ranked 3rd largest in the US, with more than 270 locations across 24 states. In Association With: Jeff McKinney OH #BRK.2016002560

FOR SALE DETAILS

PRICE

$4,423,000 USD

PRICE/SF

$1,229 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ZIPS Car Wash

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Car Washes

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1953

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

C

APN/PARCEL ID

510-0090-0021

ASK ABOUT THIS PROPERTY

Chris LomutoNoneMore Info
415-610-5230

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Chris LomutoNoneMore Info
415-610-5230

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.