36901 American Way, Avon, OH 44011-4057
- Office buildings
- 1,877 SF
- 0.04 lot acres
Current Use by Public Records
- Cleveland Clinic - Family Health Center Avon Pointe - OB/GYN / Medical Clinic
- Cleveland Clinic - Family Health Center Avon Pointe - Pediatrics / Medical Clinic
- Cleveland Clinic - Medical Outpatient Center, Avon Pointe / Medical Clinic
- Chris Tomshack / Alternative Medicine Practice
- Avon Pointe Professional Campus / Dental Office
Property Details for 36901 American Way
- Lot size
- 0.04 lot acres
- Property type
- Office buildings
- APN
- 04-00-009-702-005
- APU
- 400009702005
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 29, 2016 | $416,200 | Bove Properties II LLC | Brady-cam I LLC | Warranty Deed | $332k · Buckeye Cmnty Bk |
| Aug 22, 2014 | — | Brady-cam I LLC | — | Grant Deed · related | $1.6M · Lorain Nat'l Bk |
| — | — | Brady-cam I LLC | — | Deed Of Trust · related | $4.9M · Lorain Nat'l Bk |
| — | — | Brady Cam I LLC | — | Deed Of Trust · related | $2.5M · Northwest Bk |
Description
This exceptional investment opportunity presents two adjacent, fee-simple office condos totaling 7,082 square feet, located at 36901 American Way, Avon, OH 44011. The property is a Class A, two-story building constructed in 2008 and features a 100% occupancy rate with two corporate tenants: Buckeye Bank and RAB Financial. Both tenants occupy their respective spaces under long-term Net Lease (NNN) agreements, providing a hands-off investment experience for the owner. The leases include annual rent increases, with Buckeye Bank's lease incorporating CPI adjustments and RAB Financial's lease featuring a 3% annual increase, ensuring a steadily growing return on investment. The blended lease term remaining is approximately six years. The property benefits from a strong location in the affluent Avon community, with convenient access to Interstate 90, attracting businesses from Lorain and Cuyahoga Counties. The building is part of a larger complex, "American Way," boasting excellent co-tenancy with notable businesses including Cleveland Clinic Family Health Center and Cleveland Eye Clinic. The asking price is $1,747,000, representing a compelling 8.15% cap rate and a $246.68 price per square foot. The property's Net Operating Income (NOI) is $142,359. The property is zoned for commercial use and offers significant depreciation benefits. This is a rare opportunity to acquire a high-performing, passively managed commercial investment with a superior rate of return.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Avon
- County
- Lorain
- State
- Ohio
- Longitude
- -82.0295
- Latitude
- 41.4655
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
