Matthews Logo

Navigation Menu

2888 Mayfield Rd, Cleveland Heights, OH, 44118

Single Tenant Automotive Net Lease Opportunity
$1,432,859

Key Information

Cap Rate
8.5%
Tot. SF
7,500
Year Built
1951/R 1965
Term Remaining
±4 YRS
Type
Retail
NOI
$121,793

Highlights

  • Single-Tenant Automotive Building: The subject property is occupied by Drivechoice and utilized as an automotive lot and reconditioning facility, with less than 4 years remaining on the original 10-year lease with no option to extend.
  • Passive Investment: Net lease opportunity with 3% annual increases and limited landlord responsibilities.
  • Possible Owner/User Investment: Contact broker for more information.
  • High Barriers to Entry & Automotive Synergies: Urban infill location with limited opportunities for new automotive uses or developments. Close proximity to 6 automotive dealerships and service centers.
  • Cleveland Heights Submarket: Densely populated surrounding market area, population of ±17,500 and ±$77,500 average household income in a one-mile radius.

Photos

Location

Agents

Broker of Record

Matt Wallace

License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113