2285 Eastown Rd Lima, OH 45807
- Auto shops
- 1,438 SF
- 1.40 lot acres
Current Use by Public Records
- Take 5 Oil Change / Oil Change Service
Property Details for 2285 Eastown Rd
- Year built
- 2023
- Lot size
- 1.40 lot acres
- Property size
- 1,438 SF
- Property type
- Auto shops
Description
This exceptional investment opportunity features a brand-new (2023), 1,438 square foot Take 5 Oil Change located at 2285 N Eastown Rd, Lima, OH 45807. Situated on a 1.4-acre lot, this property boasts a 20-year absolute triple-net (NNN) lease with a strong corporate guarantee from Driven Funding Holdco, LLC (approximately 3,500 units). The current annual net operating income (NOI) is $105,000, representing a compelling 6.25% cap rate. The lease includes attractive annual rental increases of 1.50%, ensuring consistent growth in income. The asking price is $1,680,000, translating to $1,168.29 per square foot. This single-tenant property offers exceptional stability and long-term value, making it an ideal addition to any investment portfolio. The property is currently 100% occupied. The lease commenced upon the closing of escrow. This is a sale-leaseback transaction. Allen County location provides excellent access and visibility.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lima
- County
- Allen
- State
- Ohio
- Longitude
- -84.166089
- Latitude
- 40.770186
