1233 Som Center Rd, Cleveland, OH 44124
- Retail space
- 14,563 SF
- 1.60 lot acres
Current Use by Public Records
- Retail space
Property Details for 1233 Som Center Rd
- Year built
- 2007
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.60 lot acres
- Zone code
- U-4A
- Property type
- Retail space
- APN
- 862-26-003
- APU
- 86226003
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 4, 2025 | $2,475,000 | 1233 Som Real Estate Holdings LLC | Rjnb LLC | Warranty Deed | — |
| Jul 14, 2016 | — | Rjnb LLC | — | Deed · related | $8.2M · First Nat'l Bk/pa |
| Aug 24, 2004 | — | Rjnb LLC | Ottino,mary L | Quit Claim Deed · related | — |
| — | — | Rjnb LLC | — | Deed Of Trust · related | $8.2M · First Nat'l Bk/pa |
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,540,000
- ML approach
- $2,410,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,240,000
- 6.5%
- $2,065,000
- 7%
- $1,920,000
-
Alternative Use
- Use
- Estimation
- RESTAURANT
- $2,455,000
- OFFICE BUILDING
- $2,355,000
- MEDICAL BUILDING
- $1,580,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
