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762 Front St

5,926 SF Retail Building Berea, OH 44017 £500,029 (£84/SF) 8.08% Net Initial Yield

Investment Highlights

  • In 2021, the roof was replaced with a 10-year warranty
  • Genuine Parts Company (GPC) boasts an investment-grade credit rating of BBB (S&P).
  • Napa Auto Parts has over ±6,000 stores nationwide, making it one of the largest auto parts companies in North America.

Executive Summary

Broker of Record
Matt Wallace
License No. REC.2022007141 (OH)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
950 Main Ave.,
Suite 510, Cleveland, OH 44113

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,926 SF
Building Class
C
Year Built
1955
Price
£500,029
Price Per SF
£84
Net Initial Yield
8.08%
NOI
£40,402
Tenancy
Single
Number of Floors
1
Building FAR
0.34
Land Acres
0.40 AC
Zoning
G - Commercial
Frontage
102 ft on Front St

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Retailer
  • -
  • -
  • -

In 1925, a group of independent auto parts sellers met in Detroit to form the National Automotive Parts Association. Their mission was simple: Improve the distribution of auto parts to serve the people and businesses who increasingly relied on cars and trucks for their transportation needs. NAPA stores and warehouses, which were owned by a variety of member companies at the time, quickly became the go-to sources for parts. Carlyle Fraser, founder of Genuine Parts Company, served as a key NAPA contributor in its early years. Across the decades, Genuine Parts began to acquire the other NAPA member companies, and in 2012 became the last remaining member of NAPA, a brand with a reputation for quality parts, rapid availability, and knowledgeable people. Today, the NAPA Network offers hundreds of thousands of unique parts, distributed across many distribution centers, thousands of NAPA Auto Parts stores and even more NAPA Auto Care centers throughout the United States.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Retailer - - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
362-02-008
Land Assessment
£23,891
Improvements Assessment
£42,780
Total Assessment
£66,663
  • Listing ID: 33396693

  • Date on Market: 03/10/2024

  • Last Updated:

  • Address: 762 Front St, Berea, OH 44017

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