1233 Som Ctr Rd Mayfield Heights, OH 44124-2050

Property Details for 1233 Som Ctr Rd

Year built

2007

Construction

TYPE NOT SPECIFIED

Lot size

1.60 lot acres

Property size

14,563 SF

Zone code

U-4A

Property type

Retail space

APN

862-26-003

APU

86226003

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased daycare facility in Mayfield Heights, Ohio. The property, a 14,563 square-foot Class A building on a 1.6-acre lot (69,696 sq ft), is fully occupied by Children's Learning Adventure under a brand new 15-year lease commencing at closing. The lease includes two 5-year renewal options and rent bumps every five years, representing the lesser of 8% or 300% CPI. The property boasts a strong 6.27% cap rate and a substantial annual net operating income (NOI) of $495,053. Built in 2007 and renovated in 2024, this daycare center benefits from its prime location on a heavily trafficked retail corridor (over 60,000 vehicles daily) near major retailers such as Target, Costco, Best Buy, and more, drawing from the affluent Gates Mills community (median household income $168,100). The property's proximity to Hillcrest Hospital (2,000 employees) and Interstate 271 further enhances its appeal. The asking price is $7,895,580, translating to $542.17 per square foot and $113.29 per square foot for land value. The property is zoned C in Cuyahoga County, Ohio (APN: 86226003). This is a stabilized investment with minimal landlord responsibilities, offering long-term, inflation-resistant cash flow.

Location Insight

City

Mayfield Heights

County

Cuyahoga

State

Ohio

Longitude

-81.438

Latitude

41.5269

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments