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Advanced Auto | New 5-Year Lease Extension
Property Highlights
- Advance Auto Parts has successfully operated at this location for over twenty-one (21) years, demonstrating long-term commitment and stability.
- Recently extended through December 31, 2029, with a corporate guaranty, and a 16% rent increase available in the renewal option.
- Offered at an 8.00% cap rate with an NOI of $92,400 annually, providing strong cash flow for investors.
- Average household income exceeds $103,702 within a 3-mile radius and benefits from daily traffic counts of over 15,000 vehicles.
- Parma is part of Cleveland’s Southwest sub-market where retail vacancy is just 3.3%, and construction is highly restrained, supporting long-term tenant demand.
For Sale
Advanced Auto Parts
10200 West Sprague Road
- Parma
- OH
- 44130
Property Type:
Sale, Investment Property
Contact:
Downloads:
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Office Locations
Cleveland
24500 Chagrin Blvd., Suite 100 Beachwood, Ohio 44122
Columbus
875 North High Street, 3rd Floor Columbus, Ohio 43215
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