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    36901 American Way Avon, OH 44011

    For Sale
    $1,747,000

    Two-building office complex, 8.15% cap rate.

    Property size:
    7,082 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional investment opportunity presents two adjacent, fee-simple office condos totaling 7,082 square feet, located at 36901 American Way, Avon, OH 44011. The property is a Class A, two-story building constructed in 2008 and features a 100% occupancy rate with two corporate tenants: Buckeye Bank and RAB Financial. Both tenants occupy their respective spaces under long-term Net Lease (NNN) agreements, providing a hands-off investment experience for the owner. The leases include annual rent increases, with Buckeye Bank's lease incorporating CPI adjustments and RAB Financial's lease featuring a 3% annual increase, ensuring a steadily growing return on investment. The blended lease term remaining is approximately six years. The property benefits from a strong location in the affluent Avon community, with convenient access to Interstate 90, attracting businesses from Lorain and Cuyahoga Counties. The building is part of a larger complex, "American Way," boasting excellent co-tenancy with notable businesses including Cleveland Clinic Family Health Center and Cleveland Eye Clinic. The asking price is $1,747,000, representing a compelling 8.15% cap rate and a $246.68 price per square foot. The property's Net Operating Income (NOI) is $142,359. The property is zoned for commercial use and offers significant depreciation benefits. This is a rare opportunity to acquire a high-performing, passively managed commercial investment with a superior rate of return.

    Property Features for 36901 American Way

    General Information

    Property type
    Medical offices
    Square Feet
    7,082 SF
    Class
    A

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    2
    Units
    3

    HighLights

    • Adjacent to Cleveland Clinic medical offices.
    • Tenants pay annual rent increases of CPI + 3%.
    • Strong lease term remaining: approximately 6 years.
    • Tenants' corporate headquarters are located at this property.
    • Triple‑net (NNN) lease structure provides passive income.
    • High cap rate of 8.15% offers strong cash flow.
    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
    -82.0295845
    Latitude
    41.4651792

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    FAQs

    What type of property is this?
    Medical office - Two-building office complex, 8.15% cap rate.
    Where is this medical office located?
    The property is located at 36901 American Way Avon, OH.
    What is the asking price?
    The asking price for this property is $1,747,000.
    What are key features of this property?
    This property features: Adjacent to Cleveland Clinic medical offices.; Tenants pay annual rent increases of CPI + 3%.; Strong lease term remaining: approximately 6 years.
    Request Owner's contact information
    36901 American Way Avon, OH 44011
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    36901 American Way Avon, OH 44011
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