201 Richmond St Painesville, OH 44077

This exceptional retail investment opportunity presents a 4,250 square foot property located at 201 Richmond St, Painesville, OH 44077. The property boasts a strong tenant lineup featuring a BP Gas Station and a Jimmy John's, ensuring 100% occupancy with a remaining lease term of 5.6 years. Built in 2005 and extensively renovated in 2023, this single-story building sits on a 0.54-acre lot (APN: 15-D-008-0-00-012). The property generates a substantial NOI of $204,705, translating to an attractive 9.00% cap rate and a price per square foot of $535.29. The asking price is $2,275,000. Tenants are responsible for their own insurance and utilities. BP covers building insurance and maintains all property operating expenses, including snow removal, landscaping, and trash. BP also reimburses real estate taxes on their portion of the property. A $0.20 annual non-recoverable expense is included in the sale. This is a turnkey investment with significant upside potential.