4660 Northfield Rd North Randall, OH 44128-4522

This exceptional investment opportunity presents a single-tenant, Net Leased Taco Bell property located at 4660 Northfield Rd, North Randall, OH 44128, within the Cleveland MSA. The property boasts a substantial 2,128 square foot building constructed in 2019 on a 0.98-acre lot, featuring a drive-thru. The current lease, a Ground Lease with a 25-year initial term commencing September 9, 2019, and expiring September 8, 2044, has approximately 19.8 years remaining. The lease includes six five-year renewal options and attractive 10% rent bumps every five years. The current Net Operating Income (NOI) is $82,500, yielding a 5.25% cap rate on the asking price of $1,571,428. This Class A property benefits from a strong location, situated near a large Amazon Fulfillment Center employing over 2,000 people and Jack Thistledown Casino, attracting over 1,300,000 annual visitors. The surrounding area features a dense population of over 214,000 within a five-mile radius and includes numerous national retailers. The property's APN is 771-08-015. This is a 1031 exchange eligible property, offering significant long-term passive income potential with minimal landlord responsibilities. The property is categorized as a QSR/Fast Food establishment.