8301 Colerain Ave, Cincinnati, OH 45239
- Car washes
- 10,168 SF
- 0.91 lot acres
Current Use by Public Records
- Zips Car Wash / Car Wash
Property Details for 8301 Colerain Ave
- Year built
- 1953
- Lot size
- 0.91 lot acres
- Property type
- Car washes
- APN
- 510-0090-0021-00
- APU
- 5100090002100
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 16, 2020 | $3,969,148 | Getty Leasing INC | Zips Colerain Avenue LLC | Grant Deed | — |
| Mar 27, 2019 | $525,000 | Zips Colerain Avenue LLC | Awm Colerain LLC | Limited Warranty Deed | $2M · Centennial Bank |
| Nov 26, 2013 | $100,000 | Awm Colerain LLC | Capodagli,ida M | Warranty Deed | — |
| Nov 12, 2013 | — | Ida M Capodagli | Capodagli,ida M | Quit Claim Deed · related | — |
| — | — | Ida M Capodagli | — | Deed Of Trust · related | $150k · Sycamore National Bank |
| — | — | Ida M Capodagli | — | Deed Of Trust · related | $85k · Sycamore National Bank |
| — | — | Ida M Cardogli | — | Deed Of Trust · related | $208k · Sycamore National Bank |
| — | — | Ida M Capodagli | — | Deed Of Trust · related | $128k · Sycamore National Bank |
| — | — | Ida M Cardagli | — | Deed Of Trust · related | $50k · Sycamore National Bank |
| — | — | Ida M Capodagli | — | Deed Of Trust · related | $128k · Sycamore National Bank |
Description
This exceptional investment opportunity presents a Zips Car Wash located at 8301 Colerain Ave, Cincinnati, OH 45239. The property boasts a 3,600 square foot building situated on a 0.91-acre lot in a high-traffic area with approximately 38,000 cars passing daily. The property benefits from its proximity to Ohio Route 126 and a Walmart Supercenter, creating optimal synergy and attracting a large customer base. The absolute NNN lease, with a remaining term of 10.1 years (expiring 12/31/2034), includes annual rent bumps of 1.5% and six five-year renewal options. The lease commenced on June 12, 2020. The current Net Operating Income (NOI) is $309,634, resulting in a 7.00% cap rate. The asking price is $4,423,000. The surrounding demographics are strong, with an average household income of approximately $80,000 and a projected 4% annual growth over the next five years. The site's location ranks in the 77th percentile for average daily traffic count and the 85th percentile for surrounding population among comparable conveyor car wash sites nationally. The lease structure is landlord-friendly, with all land, improvements, and significant equipment apportioned to the landlord, maximizing depreciation benefits. All taxes, insurance, and maintenance, including capital repairs and replacements, are tenant expenses. This presents a compelling investment opportunity with significant potential for long-term growth and strong returns.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,725,000
- ML approach
- $3,765,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Cincinnati
- County
- Hamilton
- State
- Ohio
- Longitude
- -84.5875
- Latitude
- 39.222
- CBSA code
- 17140
- CBSA name
- CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA
