4431 Peach St - Freestanding FOR SALE
Erie, PA 16509 |
$1,700,000 USD
215-603-6914
4431 Peach St
Erie, PA 16509
HIGHLIGHTS
- Newer 2016 construction with no deferred maintenance
- NN Lease with 11+ Years Remaining and minimal Landlord responsibilities or expenses. There are 6% rental increases in Year 11 and each option period.
- Located at the signalized corner of Peach Street and Miller Avenue with a combined 23,899 vehicles passing by daily
- Lease is Corporately Guaranteed by O’Reilly Auto Parts, an investment grade credit tenant, rated BBB by Standard & Poor’s
- Surrounding National Retailers Include McDonald’s, Perkins, Taco Bell, Burger King, Walgreens, and Citizens Bank
- Densely Populated Area with Over 13,000 People in the 1 Mile Ring, Over 95,000 People in the 3 Mile Ring, and Over 151,000 in the 5 mile ring
OVERVIEW
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this O'Reilly Auto Parts on Peach Street (Route 19) in Erie, Pennsylvania. Built new in 2016, the 7,000 square foot building is operating on a twenty (20) year lease (11+ years remaining) with a 6% increase in year eleven and in each of the three, five year options. The lease is corporately guaranteed by O’Reilly Auto Parts, an investment grade credit tenant, rated BBB by Standard & Poor’s.
FOR SALE DETAILS
PRICE
$1,700,000 USD
PRICE/SF
$243 USD /SF
CAP RATE
5.99%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment Or Owner User
BUILDING DETAILS
PROPERTY NAME
O'Reilly Auto Parts | Erie, PA
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Auto Repair, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2016
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.66 AC
LAND SF
28,750 SF
ZONING
Commercial
APN/PARCEL ID
18-053-001.0-110.00
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215-603-6914
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215-603-6914
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