OFFERING MEMORANDUM ™ 134 E Woodland Ave | Youngstown, OH FleetPride, Albuquerque, NM | 1 ™ exclusively listed by KYLER BEAN Chad Kurz Senior Associate - Industrial SVP & National Director STNL Laurence Bergman Broker of Record
[email protected] [email protected] Lic # 000348029 (OH) DIR (214) 692-2192 DIR (214) 692-2927 MOB (325) 227-0893 MOB (562) 480-2937 2 | OfferingLIC # 646910 (TX) MemorandumLIC # 01911198 (CA) Investment Highlights • 18,089 SF Distribution Warehouse • Strategic Location - FleetPride just acquired this location, taking over Ohio Diesel Fleet Supply, giving FleetPride four Ohio locations, joining Toledo, Cincinnati, and Cleveland • Low Rent - FleetPride is only paying $3.32 / SF at this site, well below their average rent / SF nation-wide • National Tenant - With 270+ locations across 46 states, FleetPride has been growing rapidly since their formation in 1999 • Price / SF of $35.10 at list price, below replacement cost for the area FleetPride, Albuquerque, NM | 3 Financial Overview 4 | Offering Memorandum Address 134 E Woodland Ave Youngstown, OH List Price Annualized Operating Data $635,000 Landlord Term Monthly Rent Annual NOI Rent PSF Cap Rate Insurance Current - 5/31/2025 $5,000 $2,000 $58,000 $3.21 9.13% Option 1 (5 Years) $5,500. $2,200 $63,800 $3.53 10.05% CAp Rate 9.13% Tenant Summary Tenant Trade Name FleetPride GLA Type of Ownership Fee Simple ± 18,089 SF Lease Guarantor Corporate Lease Type NN Roof and Structure Landlord Responsibility Lot Size Original Lease Term 7 Years ± 0.69 AC Rent Commencement Date 5/14/2018 Lease Expiration Date 5/31/2025 Term Remaining on Lease ±6 Years Year Renovated 2018 Increases 10% Increases Every 5 Years in Options Options One 5-Year Option FleetPride, Youngstown, OH | 5 Tenant Overview 6 | Offering Memorandum The Heavy Duty Experts Formed in 1999, FleetPride is the largest distributor of truck and trailer parts in the independent heavy-duty aftermarket channel.