6505 Mayfield Rd, Mayfield Heights, OH 44124-3216
- Retail space
- 12,300 SF
- 1.13 lot acres
Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 6505 Mayfield Rd
- Year built
- 2004
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.13 lot acres
- Zone code
- U-4
- Property type
- Retail space
- APN
- 862-05-008
- APU
- 86205008
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 13, 2023 | — | Tsg Enterprises LLC | Leos By The Lake LLC | Lease | — |
| Sep 30, 2022 | — | Leos By Thi Lake LLC | — | Deed · related | $2.4M · Key Bank NA |
| Dec 3, 2019 | $2,250,000 | Leos By The Lake LLC | Vegh Family LLC | Warranty Deed | — |
| Aug 20, 2018 | — | Vegh Family LLC | — | Deed · related | $586k · Anthony Hughes |
| Sep 8, 2016 | — | Vegh Family LLC | — | Deed · related | $399k · Keybank USA |
| Feb 28, 2006 | — | Vegh Family LLC | Vegh,daniel T | Quit Claim Deed · related | — |
| Jun 1, 2004 | $1,360,000 | Vegh,daniel T & Kathleen B | 6505 Mayfield LLC | Trustees Deed | $1.8M · National City Bank |
| Jun 1, 2004 | $1,080,000 | 6505 Mayfield LLC | Capital Equity Ltd | Grant Deed | — |
| Oct 25, 2002 | $1,080,000 | 6506 Mayfield LLC | Capital Equity Ltd | Grant Deed | $650k · Huntington National Bank |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $1.9M · Key Bank NA |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $384k · Key Bank NA |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $1.9M · Pnc Bank |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $400k · Pnc Bank |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $400k · Key Bank NA |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $399k · Keybank USA |
| — | — | Daniel T Vegh | — | Deed Of Trust · related | $328k · National City Bank |
| — | — | Vegh Family LLC | — | Deed Of Trust · related | $586k · Anthony Hughes |
Description
This exceptional NNN retail investment opportunity, located at 6505 Mayfield Road in Mayfield Heights, Ohio, presents a compelling opportunity for investors seeking a stable, high-performing asset. The property, built in 2004, encompasses 15,003 square feet and is currently 100% occupied by two strong, long-term tenants: Pure Hockey and My Salon Suites. Both tenants have secured leases with a remaining term of over nine years, providing consistent and reliable income streams. The property boasts a strong NOI of $319,580, resulting in a 7.10% cap rate, and is priced at $4,500,000 ($299.94 per square foot). Situated at the high-traffic signalized intersection of Mayfield Road (Route 322) and Lander Road in Cuyahoga County, this prime location offers exceptional visibility and accessibility. The property benefits from its proximity to major highways, including Interstate 271, ensuring convenient access to the greater Cleveland metropolitan area and a diverse customer base. This turnkey investment offers a low-maintenance, high-visibility opportunity in a thriving retail hub, making it an ideal addition to any portfolio. The property features ample signage opportunities, further enhancing its appeal to potential tenants and maximizing its investment potential. This multi-tenant storefront property provides a secure and profitable investment with significant long-term growth prospects.
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $557,000
Market price range: $201k - $558k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $790,000 Current use
- MEDICAL BUILDING
- $1,335,000 Change: +70% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,245,000 Change: +58% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,095,000 Change: +39% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,020,000 Change: +29% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $910,000 Change: +15% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Mayfield Heights
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.4484
- Latitude
- 41.5208
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
