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36901 American Way Avon, OH 44011

For Sale
$1,668,000

Two adjacent condos leased to Buckeye Bank and R.A.B. Financial.

Lot size:
0.47 Acres

Property Features for 36901 American Way

General Information

Lot size
0.47 Acres

Source: Goodman Real Estate Agent Kyle Hartung

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Profitable Investment Opportunity in Avon

Two adjacent condos are available for sale, currently under long-term leases to Buckeye Community Bank headquarters and R.A.B. Financial. Situated in Avon, Ohio, the location benefits from its proximity to Interstate 90, attracting businesses aiming to serve a broad geographic area encompassing Lorain and Cuyahoga Counties. Buckeye Bank has over 8 years remaining on its base term, while R.A.B. Financial has 4 years. Both tenants have annual rental increases incorporated into their leases, with CPI and 3% respectively, providing a growing return on investment. The lease structure requires tenants to reimburse for common area maintenance, real estate taxes, and insurance, making it a hands-off investment. Tenants are also responsible for interior space and HVAC repairs and replacements. The complex, known as 'American Way,' is located one block east of Interstate 90 and houses various well-known tenants, including Buckeye Bank Headquarters, RAB Financial, Cleveland Eye Clinic, Cleveland Clinic Family Health Center, Weston Dental, and Lake Erie Crushers.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Cleveland Clinic - Family ... Women'S Health Clinic Cleveland Clinic - Family ... Medical Center Cleveland Clinic - Medical ... Medical Center Chris Tomshack Alternative Medicine Practitioner Avon Pointe Professional ... Dental Clinic

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Avon
County
Lorain
State
Ohio
Longitude
-82.0298942
Latitude
41.4655098

FAQs

What type of property is this?
Bank - Two adjacent condos leased to Buckeye Bank and R.A.B. Financial.
Where is this bank located?
The property is located at 36901 American Way Avon, OH.
What is the asking price?
The asking price for this property is $1,668,000.
What are key features of this property?
This property features: - High 8.15% Cap Rate, increasing annually; - Long-term leases in place with established tenants: Buckeye Community Bank (8+ years remaining) and R.A.B. Financial (4 years remaining); - Annual rental increases built into both leases: CPI and 3%, respectively
More about this property
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