2888 Mayfield Rd Cleveland Heights, OH 44118-1685

This fee-simple, 7,500-square-foot auto shop in Cleveland Heights, Ohio, presents a compelling net lease investment opportunity. Located at 2888 Mayfield Rd, 44118, this Class B property boasts a 10-year NNN lease with Honda of Cleveland Heights, a corporate-guaranteed tenant, with approximately 4.8 years remaining. The lease commenced August 30, 2019, and expires August 31, 2029, featuring 3% annual rent bumps. The property sits on a 0.9-acre lot and includes a single, one-story building constructed in 1951 and renovated in 1965. The property enjoys 100% occupancy, generating a net operating income (NOI) of $118,246, resulting in a 6.50% cap rate. The asking price is $1,819,169. This investment is suitable for a 1031 exchange. The property benefits from its location in a densely populated and affluent Cleveland Heights submarket with low vacancy rates. The site is part of a larger assemblage opportunity encompassing approximately 1.7 acres of contiguous land.