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Property profile & analytics
OFF-MARKET Estimated value $2,695,000
Automotive properties

2900 Mayfield Rd Cleveland Heights, OH 44118-1605

0.19 ac lot Built 1951
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US66-1517152
Property summary
AI-generated overview

This exceptional investment opportunity presents a fee-simple ownership of a Class A, 2,500 square foot car wash in Cleveland Heights, Ohio. The property, located at 2900 Mayfield Rd, sits on a 0.8-acre lot and boasts a newly executed 20-year absolute triple-net (NNN) lease with Whistle Express Car Wash, a 150+ unit operator. The lease commenced April 11, 2024, and expires April 30, 2044, offering a remaining term of 19.5 years. The lease includes annual rent bumps of 2%, ensuring consistent income growth. The current Net Operating Income (NOI) is $188,770, resulting in a 6.50% capitalization rate. The property is 100% occupied and benefits from a corporate guarantee. The building, constructed in 2010, is a single-story structure. This offering presents a compelling long-term passive investment opportunity with significant upside potential due to the strong tenant, favorable lease terms, and prime location within a densely populated and affluent Cleveland Heights submarket. The property is also eligible for 15-Year Accelerated Depreciation and Bonus Depreciation, offering further tax advantages. The lease includes four 5-year renewal options. This sale is structured as a sale/leaseback and is suitable for a 1031 exchange. The asking price is $2,904,154.

Property profile
Verified
Property type Automotive properties
Use group VEHICLE SALES, RENTALS
Year built 1951
Lot 0.19 ac (8,400 SF)
Zoning code C3
APN 684-06-007
UPID US66-1517152
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.70M
Owner & transaction history
Booza II LLC · 1 yrs held
Booza II LLC
since 2025
Last sale
$2.7M
7 recorded transactions
2025
$2.7M
2022
Price N/A
2021
Price N/A
2020
Price N/A
2019
Price N/A
2019
Price N/A
2013
$480,000
Zoning & alternative use
C3 · Cleveland Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

(d) The C -3 General Commercial District is established to provide for higher intensity commercial uses (including automotive uses) along certain major streets where the level of traffic volume warrants such uses and to provide locations for commercial uses which generally require independent, freestanding buildings and larger amounts of parking. 1131.02 PRI…

Zone name Commercial District
General category COMMERCIAL
Zone area 45.96 ac
Source Zoning Code adopted 20240116
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