15708 Industrial Pkwy Cleveland, OH 44135-3318

Property Details for 15708 Industrial Pkwy

Year built

1961

Construction

TYPE NOT SPECIFIED

Lot size

1.17 lot acres

Property size

2,698 SF

Zone code

SI

Property type

Office buildings

APN

028-21-002

APU

2821002

Description

This exceptional investment opportunity presents a 30,055-square-foot industrial distribution property in Cleveland, Ohio. Located at 15708 Industrial Parkway, this single-tenant asset boasts a strong 10-year absolute net lease with a reputable tenant, Modular Systems Technicians (MST), a full-service commercial furniture installation company with a 10+ year history at this location. The lease includes 3% annual rental increases and two five-year options, minimizing landlord responsibilities. The property sits on approximately 1.17 acres and features four external docks and a 14-foot clear height. The building is predominantly warehouse/manufacturing space (86%), with minimal office build-out. This strategically located property benefits from proximity to major transportation arteries, including Interstates 71 and 480 (less than two miles), and Cleveland Hopkins International Airport (less than three miles). The property's strong location within a low-vacancy industrial park contributes to its exceptional investment potential. With a current asking price of $1,725,000, the property generates a net operating income (NOI) of $165,028, resulting in an attractive 9.57% capitalization rate. This sale-leaseback structure offers a secure, passive income stream with significant long-term growth potential in a robust Cleveland industrial market. The property's APN is 028-21-002.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Longitude

-81.8076

Latitude

41.4258

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments