8301 Colerain Ave Cincinnati, OH 45239

Property Details for 8301 Colerain Ave

Year built

1953

Lot size

0.91 lot acres

Property size

10,168 SF

Property type

Car washes

APN

510-0090-0021-00

APU

5100090002100

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.

Location Insight

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

Property Tax & Assessments