O'Reilly Auto Parts | 6535 Broadway Ave
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O'Reilly Auto Parts 6535 Broadway Ave
7,384 SF Retail Building Cleveland, OH 44105 £1,524,719 (£206/SF) 5.65% Net Initial Yield
Investment Highlights
- Corporate Net Lease to O’Reilly Auto Parts (NASDAQ: ORLY) with Approx. 16 Years Remaining
- Built in 2020 with No Deferred Maintenance and Minimal Landlord Responsibilities
- Approximately 4 Miles from Downtown Cleveland - MSA GDP of $135.7 Billion
- Investment Grade Tenant Rated BBB+ by Standard & Poor’s
- 20-Year Transferable Roof Warranty
- Total Daytime Population of 465,168 within a 5-Mile Radius
Executive Summary
The subject property is prominently located with excellent access and visibility on Broadway Avenue/State Route 14 (18,750 AADT) just east of Interstate 77 (89,603 AADT). The property has the advantage of being located just south of the junction of Interstate 77 and Interstate 490 (105,843 AADT), part of what is known as the Cleveland Inner Belt. The site benefits from strong demographics with a total daytime population of 465,168 within a 5-mile radius. The average household income within 5 miles of the site is $70,102.
Cleveland, OH is a dynamic city on the southern shore of Lake Erie, with a metropolitan population of 2,048,449 and a city population of around 370,000. The Cleveland MSA has a GDP of $135.7 billion, reflecting its diverse economy and key industries.
Cleveland is a major hub for healthcare, home to globally renowned institutions like the Cleveland Clinic, University Hospitals, and MetroHealth. Other significant sectors include manufacturing, finance, and a growing tech industry. Major companies headquartered in the Cleveland area include Progressive Insurance, Sherwin-Williams, KeyCorp, JM Smucker Company, Parker Hannifin, and Eaton Corporation, all of which contribute to the region’s economic strength.
The city’s well-developed transportation infrastructure—comprising major highways, Cleveland Hopkins International Airport, and the Port of Cleveland—enhances its role as a logistics hub. Recent revitalization in downtown Cleveland and growing neighborhoods like Ohio City and Tremont have spurred real estate investment.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
Cleveland, OH is a dynamic city on the southern shore of Lake Erie, with a metropolitan population of 2,048,449 and a city population of around 370,000. The Cleveland MSA has a GDP of $135.7 billion, reflecting its diverse economy and key industries.
Cleveland is a major hub for healthcare, home to globally renowned institutions like the Cleveland Clinic, University Hospitals, and MetroHealth. Other significant sectors include manufacturing, finance, and a growing tech industry. Major companies headquartered in the Cleveland area include Progressive Insurance, Sherwin-Williams, KeyCorp, JM Smucker Company, Parker Hannifin, and Eaton Corporation, all of which contribute to the region’s economic strength.
The city’s well-developed transportation infrastructure—comprising major highways, Cleveland Hopkins International Airport, and the Port of Cleveland—enhances its role as a logistics hub. Recent revitalization in downtown Cleveland and growing neighborhoods like Ohio City and Tremont have spurred real estate investment.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,384 SF
Building Class
C
Year Built
2020
Price
£1,524,719
Price Per SF
£206
Net Initial Yield
5.65%
NOI
£86,129
Tenancy
Single
Number of Floors
1
Building FAR
0.26
Land Acres
0.65 AC
Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
Parcel Number | 132-02-027 | Improvements Assessment | £39,540 |
Land Assessment | £101,532 | Total Assessment | £101,532 |
PROPERTY TAXES
Parcel Number
132-02-027
Land Assessment
£101,532
Improvements Assessment
£39,540
Total Assessment
£101,532
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