2249 State RdCuyahoga Falls, OH 44223

For Sale
$1,850,000

Net-leased auto parts store, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 6,796-square-foot Advance Auto Parts store located in Cuyahoga Falls, Ohio, within the Akron MSA. The property sits on a 0.68-acre lot with 33 parking spaces and boasts excellent visibility at a signalized intersection with high daily traffic volume (16,576 vehicles). Built in 2004, the building is currently 100% occupied under a net lease with a prominent national tenant. The lease, originally set to expire in 2019, has been extended twice, most recently through December 31, 2034, providing approximately 10.1 years of remaining lease term. The lease includes three 5-year renewal options, each with a $1.00 per square foot rent increase. The property generates a strong net operating income (NOI) of $116,790, resulting in a 6.35% cap rate. The location benefits from a substantial built-in customer base, with over 5,800 households within a 1-mile radius and significant retail, office, and residential development within a 3-mile radius. This is a rare opportunity to acquire a well-performing, net-leased asset with a long-term tenant and significant upside potential. The asking price is $1,850,000.

Highlights

  • Recently extended net lease with Advance Auto Parts through 2034; ±10.3 years remaining, with three 5-year renewal options at a $1.00 PSF increase each.
  • Advance Auto Parts has occupied this location since 2004 (19-year operating history).
  • High visibility location on a hard corner at a signalized intersection (North Haven Blvd & State Rd, 16,576 VPD), less than 5 miles from downtown Akron.
  • Strong surrounding demographics: 7.4 MSF retail, 2.1 MSF office, 8.6 MSF industrial, and 9,825 multifamily units within 3 miles.
  • Over 5,800 households within a 1-mile radius provide a substantial built-in customer base.

Property Details for 2249 State Rd

Property type
Other retail properties, Automotive properties
Square Feet
6,796 SF
Year Built
2004
Lot Size (sq. ft)
29,621 SF

Location Insight

City
Cuyahoga Falls
County
Summit
State
Ohio
Latitude
41.1379074
Longitude
-81.5082503
2249 State Rd, Cuyahoga Falls, Ohio

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2249 State Rd
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