Lorain, OH - Advance Auto Parts

Description:

• The tenant, Advance Auto Parts, has approximately 6 years remaining on its lease with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 7% increases at the beginning of each option period, hedging against inflation

• The site has excellent visibility and access at the signalized, hard-corner intersection of Broadway and Henderson Drive (combined 26,000 VPD)
• Adjacent to the 655-acre U.S. Steel Manufacturing site
• Lorain is a lakefront community on Lake Erie, offering scenic views and recreational appeal that drive residential and commercial desirability
• The community received $4 million+ in state funding and $1.7 million+ in local investment for waterfront remediation, positioning the area for mixed-use growth and redevelopment
• The subject property is located within the city’s 500-acre revitalization zone along the Black River, focused on developing recreation, tourism, hospitality, and retail spaces