439 Main St New Carlisle, OH 45344-1469
- Retail space
- 6,831 SF
- 0.80 lot acres
Current Use by Public Records
- UPS Access Point location / Mailing Service / Shipping Service
- Advance Auto Parts / Auto Parts Store / Car Accessories Store
Property Details for 439 Main St
- Year built
- 2006
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.80 lot acres
- Property size
- 6,831 SF
- Property type
- Retail space
- APN
- 030-05-00029-101-004
- APU
- 300500029101004
Description
This exceptional investment opportunity presents a 5,347 square foot freestanding Advance Auto Parts retail building situated on a 0.71-acre lot at 439 N Main St, New Carlisle, OH 45344. The property boasts a strong 6.65% cap rate and a substantial net operating income (NOI) of $99,000. Built in 2006, the building is under a triple-net (NNN) lease with a corporate guarantee from Advance Auto Parts, providing significant tenant credit strength. The lease commenced May 18, 2006, and has a remaining term of approximately 7 years, extending to October 31, 2031, with three 5-year renewal options at 5% rent bumps per option. The asking price is $1,488,721, translating to a price per square foot of $278.42. The property benefits from its location in a thriving area with a strong population base of over 9,500 people within a 3-mile radius and projected population growth. The surrounding area includes several national tenants, enhancing the property's visibility and desirability. Advance Auto Parts' essential retail nature contributes to its resilience against economic downturns. This is a compelling investment opportunity offering stability, strong returns, and long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,270,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,245,000
- 6.5%
- $1,145,000
- 7%
- $1,125,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,070,000
- Geo Method
- $1,170,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,210,000
- Retail
- $1,400,000
- Mixed-Use
- $1,360,000
- Hospitality
- $1,485,000
- Educational
- $1,200,000
- Residential Income
- $1,355,000
- Energy
- $1,240,000
- Income-Based Land
- $1,265,000
- Food Service
- $1,190,000
Location Insight
- Map
- Local Demand
- City
- New Carlisle
- County
- Clark
- State
- Ohio
- Longitude
- -84.0247
- Latitude
- 39.9451
- CBSA code
- 44220
- CBSA name
- SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA
