1536 Michigan St Sidney, OH 45365-2451
- Retail space
- 6,996 SF
- 0.54 lot acres
Current Use by Public Records
- O'Reilly Auto Parts / Truck Accessories Store / Auto Parts Store
Property Details for 1536 Michigan St
- Lot size
- 0.54 lot acres
- Property size
- 6,996 SF
- Property type
- Retail space
- APN
- 01-1826377.012
- APU
- 11826377012
Description
This freestanding, 6,825 sq ft O'Reilly Auto Parts store in Sidney, Ohio presents a compelling net lease investment opportunity. Boasting a 12-year remaining lease term (15-year initial term) with a corporate guarantee from O'Reilly Automotive Inc. (rated BBB by S&P), this property offers exceptional stability and predictable cash flow. The property, built in 2019, features a modern facade and benefits from a prime location on Michigan Street, experiencing approximately 17,800 vehicles per day, with direct access to I-75. The 0.54-acre lot is surrounded by numerous national retailers, including Walmart, Tractor Supply Co., and a newly constructed Speedway. The lease includes rent bumps of 6% in year 11 and options, further enhancing long-term returns. The current NOI is $110,400, resulting in a 6.00% cap rate and a price per square foot of $269.60. The landlord is responsible for roof and structure maintenance. This is a fee-simple ownership opportunity with a strong tenant and a recession-resistant business model in a high-traffic location. The property's success is further supported by the increasing average age of vehicles on the road, driving demand for auto parts. This investment offers a secure, long-term income stream with significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $240,000
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Location Insight
- Map
- Local Demand
- City
- Sidney
- County
- Shelby
- State
- Ohio
- Longitude
- -84.1789
- Latitude
- 40.2882
- CBSA code
- 43380
- CBSA name
- SIDNEY, OH MICROPOLITAN STATISTICAL AREA
