4105 Mayfield Rd South Euclid, OH 44121

Property Details for 4105 Mayfield Rd

Year built

1975

Construction

TYPE NOT SPECIFIED

Lot size

0.79 lot acres

Property size

11,660 SF

Zone code

C-2

Property type

Retail space

APN

702-05-020

APU

70205020

Description

This exceptional investment opportunity presents a 11,679-square-foot Advance Auto Parts store located at 4105 Mayfield Rd, South Euclid, OH 44121. The property sits on a 0.8-acre lot and boasts 39 parking spaces, ensuring ample customer convenience. Built in 1941, with renovations in 1985, 1993, and 2002, the building is in excellent condition. The property benefits from a strong location within South Euclid's primary retail and commercial corridor, featuring high visibility along Mayfield Road (26,922 vehicles per day) and proximity to Warrensville Center Road (19,600 vehicles per day). The current lease, a triple-net (NNN) agreement, runs through December 31, 2034, offering a substantial remaining lease term of approximately 10.1 years. The lease includes three 5-year renewal options, each with a 7% rent increase. The current annual net operating income (NOI) is $116,020, resulting in a compelling 6.35% capitalization rate. Advance Auto Parts has occupied this location since 2004, demonstrating a long-term commitment to the site. This location consistently performs well, ranking within the top 9% of Advance Auto Parts stores in Ohio and the top 16% nationwide based on customer visits. The property offers a secure, long-term investment with significant upside potential due to the built-in rent escalations and the tenant's proven track record. The asking price is $1,825,000. This is a rare opportunity to acquire a high-performing, net-leased retail property in a prime location within the Cleveland-Elyria MSA.

Location Insight

City

South Euclid

County

Cuyahoga

State

Ohio

Longitude

-81.5326

Latitude

41.521

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments