5750-5788 Ridge Rd Madison, OH 44057

Property Details for 5750-5788 Ridge Rd

Year built

2003

Lot size

6.11 lot acres

Property size

22,488 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional investment opportunity presents a fully leased, 22,488 square foot flex space situated on a 6.108-acre lot in Madison, Ohio's Cleveland submarket. The property comprises two well-maintained Class B buildings, constructed in 2003, featuring 16-foot ceilings and a total of nine overhead doors (eight 14'x12' and one 14'x14'). Currently housing four tenants under a gross lease, with a 100% occupancy rate since March 2, 2003, the property boasts a strong net operating income (NOI) of $72,570. The current lease terms are for one year, commencing January 1, 2024, and expiring January 1, 2025. The property offers a mix of commercial, retail, and office space, catering to diverse business needs. With 50 parking spaces and ample exterior storage, this property provides convenience and functionality. The strategic location on North Ridge Road (US Route 20) offers 272.7 feet of frontage, ensuring high visibility and significant traffic exposure. The property's proximity to a Walmart Supercenter further enhances its appeal. The asking price is $1,599,000, translating to $71.10 per square foot and a land value of $35,000-$45,000 per acre. The property is zoned B-2 and features seven units across two one-story buildings. This presents a compelling investment opportunity with potential for future expansion and increased revenue streams in a rapidly developing area. The property's strong tenant base and prime location make it an attractive asset for investors seeking stable income and long-term growth.

Location Insight

City

Madison

County

Lake

State

Ohio

Longitude

-81.0848

Latitude

41.7973