Cap Rate: 6.50%
Net Operating Income: $72,000
Square Footage: 1,040
Lot Size: 0.37 AC
This is an absolute net leased C-Store offering in Elyria, OH. This Valero branded station has a new 20 year absolute NNN lease and calls for 1.75% annual increases in rent. The lease is corporately guaranteed by a leading 462-unit operator.
Elyria is a city in the Greater Cleveland metropolitan statistical area and the county seat of Lorain County, Ohio, United States, located at the forks of the Black River in Northeast Ohio 23 miles southwest of Cleveland. As of the 2010 census, the city had a population of 54,533. The city is home to Lorain County Community College.