1536 Michigan St Sidney, OH 45365-2451

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.

Location Insight

City

Sidney

County

Shelby

State

Ohio

Longitude

-84.1789

Latitude

40.2882

CBSA code

43380

CBSA name

SIDNEY, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments