Main Content
- SF: 8,818 sq. ft
- acres 1
- Request Info
Agent(s): Kyle Hartung
- Price $710,000
- Cap Rate 6.75%
- Status Investment Sales Sold
About This Property
For sale to qualified investors is the 100% fee-simple interest in the National Tire and Battery (NTB) located in Willoughby Hills, Ohio. Opened in 1989, this NTB location has 34 years of tenure at this location and extended their lease for 10 years in 2020, giving them guaranteed term through March 2030. The tenant, NTW LLC, is a wholly-owned subsidiary of TBC corporation (owner of NTB, TWC, Midas, etc.), and, according to their website, is the largest revenue producer for their company. The lease currently has nearly 7 years of guaranteed term remaining plus options. The lease is triple-net, requiring the tenant to perform all maintenance and repairs of the premises, making this deal 100% hands-off for the owner. Additionally, since the property has a low in-place rent of $5.43 PSF, the property is being offered at a mere $80 PSF and is the lowest-priced NTB on the market today. The property is located close a highway interchange with Interstate 90 and is shadowed anchored by Marc’s Grocery Store (Opened 2022) and is surrounded by other retailers including Aldi, Dollar Tree, CVS, Dunkin Donuts, McDonald’s, and O’Reilly, in addition to over 1,300 nearby apartment units and University Hospitals Richmond Hospital.