14801 Broadway Ave Maple Heights, OH 44137
- Commercial real estate
- 33,352 SF
- 2.83 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 14801 Broadway Ave
- Year built
- 1975
- Lot size
- 2.83 lot acres
- Property size
- 33,352 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a 33,352 square foot, single-tenant office building located at 14801 Broadway Ave, Maple Heights, OH 44137. The property, situated on a 2.83-acre lot, boasts 165 parking spaces and enjoys excellent highway access via I-480. Currently 100% occupied by Remington College under a Net Lease (NNN) agreement expiring June 30, 2030 (5.6 years remaining), this Class B building offers a compelling 9.65% cap rate with a strong NOI of $363,881. The lease includes a beneficial 3% annual rent increase, ensuring consistent income growth. Remington College, established in 1987, has occupied the building since 2011, demonstrating long-term commitment. Recent renovations include a new culinary school (2023), a new welding school (2024), HVAC upgrades, and parking lot/sidewalk improvements. Built in 1975, this two-story building offers significant potential, including adaptability for multi-tenant use due to multiple entrances. The asking price is $3,771,000, translating to $113.07 per square foot. This is a rare opportunity to acquire a stable, high-yielding investment with a proven tenant and significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Maple Heights
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.5769165
- Latitude
- 41.4214094
