Cleveland Gas Station

3350 E 116th St, Cleveland, OH

Deal Type:

Net Lease

Price:

$1,877,000

Cap Rate:

5.25%

Current Rent:

$98,532

Lease Type:

Triple Net

Landlord Responsibilities:

None

Renewal Options:

2, Five years

Building Sq. Ft.:

1,509 SF

Rent Increases:

2% Annually

Site Size:

0.38 Acres

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Investment Highlights

COMMITMENT: Rare 25 year absolute NNN lease structure with 2% annual rental increases to provide a hedge against inflation.
DEMOGRAPHICS: Densely populated area with approximately 315,000 people living with a 5 mile radius.
LOCATION: Situated nearby to other national tenants such as Aldi, AutoZone Auto Parts, Mcdonald’s, and Family Dollar.
DEPRECIATION: Asset qualifies for accelerated depreciation.
STRONG CREDIT TENANT: Strong lease guarantee, a $59 Billion Dollar Revenue Company.

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

In Association with Scott Reid & ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946

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