OLD DOMINION FREIGHT

1554 E 12th St., Erie, PA 16511
$1,106,116

Cap Rate
9.75%
Price Per SF
$111
Leasable Area
9,450 SF
Term Remaining
± 3 YRS
NOI
$107,846

Broker of Record

  • Kyle Matthews
  • License No. RB068831 (PA)
  • (310) 919-5757
  • Matthews Retail Group, Inc.
  • 841 Apollo Street. Suite 150,
    El Segundo, CA 90245

INVESTMENT HIGHLIGHTS:

  • Strong Commitment to Area – Old Dominion Freight Line recently renovated this site in 2016 which included an additional acre of land development for operations. In addition, Old Dominion Freight executed a brand new 5-year option in 2016 with one 5-year option remaining.
  • Strategic Location – Nearest Old Dominion Site is over 100 miles away in Tonawanda, NY, and Girard, OH making this a strategic site for operations. This property is also located minutes from State Route 20, Interstate 79, 86, and 90 which provides ease of access throughout Pennsylvania.
  • Industrial Synergy – Site is situated in a major industrial corridor with over 21,000,000 SF of industrial space and vacancy rates at a low 4%. Nearby Industrial Tenants include Berry Plastics, GE Transportation, ABF Freight, XPO Logistics, ABC Supply, Zurn Industries, and FedEx Ship Center.
  • Nationally Recognized Tenant – Old Dominion Freight is a leading LTL Carrier in North America ranking 10th overall with a 2018 annual revenue of over $4.0 Billion with over 234 service centers nationwide. Additionally, Old Dominion Freight posted a 20% Gain in Revenue from December 2017-2018 and continues to show year over year growth in operations.
  • Ease of Ownership – Tenant handles all expenses for day to day operations. Landlord responsibilities are only roof, parking lot, structure, and exterior walls making this investment ideal for a passive owner, 1031 exchange buyer, or out of state investor.