6505 Mayfield RdMayfield Heights, OH 44124

For Sale
$4,500,000

High-traffic, multi-tenant retail property

Overview

Added:
Dec 11, 2024
Days on market:
91
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.

Highlights

  • High-traffic location with excellent signage potential.
  • National tenants under long-term (9+ year) leases.
  • Triple-net (NNN) investment opportunity requiring minimal owner involvement.
  • Located in a strong retail corridor.
  • Prominent visibility and convenient access to I-271.

Property Details for 6505 Mayfield Rd

Property type
Other retail properties, Individual retail properties
Square Feet
15,003 SF
Year Built
2004

Location Insight

City
Mayfield Heights
County
Cuyahoga
State
Ohio
Latitude
41.5207559
Longitude
-81.4482489
6505 Mayfield Rd, Mayfield Heights, Ohio

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6505 Mayfield Rd
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