36901 American Way Avon, OH 44011

Property Details for 36901 American Way

Lot size

0.04 lot acres

Property size

1,877 SF

Property type

Office buildings

APN

04-00-009-702-005

APU

400009702005

Description

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.

Location Insight

City

Avon

County

Lorain

State

Ohio

Longitude

-82.0295

Latitude

41.4655

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments