Two-Level School Investment
For Sale
$3,999,000
8555 Day Dr, Parma, OH 44129
Fully occupied first floor carries long-term NNN leases with renewal options.
Property Size4 SF
Price / SF$999,750
Days on Market9
Property Features for 8555 Day Dr
General Information
Standard status
Active
Size
4 SF
Zoning
RB
Net Operating Income
$339,635
Financials
Asking Price
$3,999,000
Cap Rate
8.5%
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
(216) 374-3689
Listed By:
Kas Filippova · License #SAL.2020006531
(216) 374-3689
Source:
Expcommercial
Added: Aug 10
Changed: Aug 17
Last Checked: Aug 18 at 4:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kas Filippova
Investment Insights
Based on property information with market context.
This two-level, ±60,165 SF commercial property combines an operating school facility with additional upper-level space. The first floor encompasses ±31,500 SF and is fully leased to Oakmont Education, LLC through June 30, 2036 under two matching NNN leases. The agreements include two five-year renewal options, extending potential occupancy through 2046, and place taxes, insurance, and CAM obligations with the tenant. Controllable operating costs are capped at 4% annually.
Capital improvements include a new roof, HVAC units, exterior paint, ±47,500 SF of resurfaced parking with new lot lighting, and a purpose-built school interior. The ±28,665 SF second floor is currently vacant and was last leased at $3.75/SF. The 8735 lease provides for a $20,365 annual rent increase when that area is placed in service by September 1, 2028. The property is zoned RB and fronts Ridge Road (SR-3), with reported traffic exceeding 27,600 VPD.
Capital improvements include a new roof, HVAC units, exterior paint, ±47,500 SF of resurfaced parking with new lot lighting, and a purpose-built school interior. The ±28,665 SF second floor is currently vacant and was last leased at $3.75/SF. The 8735 lease provides for a $20,365 annual rent increase when that area is placed in service by September 1, 2028. The property is zoned RB and fronts Ridge Road (SR-3), with reported traffic exceeding 27,600 VPD.
Key Highlights
- ±31,500 SF first floor 100% leased to Oakmont Education through 6/30/2036
- Two 5‑year renewal options extend potential occupancy to 2046
- True NNN leases; tenant pays taxes, insurance, and CAM, with controllable costs capped at 4%/yr
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 44129, OH
28,803
Population
12,756
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,966
Density / Sq Mi
$67,619
Median Household Income
$39,174
Median Earnings
$1,024
Median Rent
$150,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
School - Fully occupied first floor carries long-term NNN leases with renewal options.
Where is this school located?
The property is located at 8555 Day Dr Parma, OH.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: ±31,500 SF first floor 100% leased to Oakmont Education through 6/30/2036; Two 5‑year renewal options extend potential occupancy to 2046; True NNN leases; tenant pays taxes, insurance, and CAM, with controllable costs capped at 4%/yr
