15708 Industrial Pky - Warehouse FOR SALE


Cleveland, OH 44135
$1,725,000 USD
312-327-5470
15708 Industrial Pky, Cleveland, OH for Sale
$1,725,000 USD
Warehouse - FOR SALE
1/12
null | 9.57% Cap Rate

15708 Industrial Pky
Cleveland, OH 44135


HIGHLIGHTS

  • 10-Year single-tenant sale-leaseback investment opportunity
  • Absolute Net Lease structure | Zero landlord responsibilities
  • Extremely tight industrial submarket | Minimal vacancy in immediate industrial park
  • 0.50% Vacancy rate of Class B & C industrial pr oduct within a three-mile radius
  • Minimal office build-out | 86% Warehouse/manufacturing space
  • Less than two miles from access to Interstate 71 and Interstate 480 | Less than three miles from Cleveland Hopkins International Airport

OVERVIEW

The Doughty Industrial Group of Marcus & Millichap is pleased to present the sale offering of 15708 Industrial Parkway, a 10-year sale-leaseback industrial investment opportunity in Cleveland, Ohio. The property is located in an industrial park in southwest Cleveland which boasts minimal vacancy and is less than two miles from Interstate 71 and Interstate 480 access and less than three miles from Cleveland Hopkins International Airport. The subject property consists of ±30,055 square feet of industrial space situated on ±1.17 acres of land complete with 4 external docks and a clear height of 14’. The tenant, Modular Systems Technicians (MST), is a full-service commercial furniture installation company. MST has operated out of the subject property for 10+ years. At close of escrow, MST is offering to sign a 10-year absolute net lease, with 3% annual rental increases and two, five-year options. The purchase of this offering presents an investor with the opportunity to own an industrial asset in a robust pocket of the Cleveland industrial market. At the current list price of $1,725,000 the investment offering will generate an in-place net operating income of $165,028 which equates to a capitalization rate of 9.57%.

FOR SALE DETAILS

PRICE

$1,725,000 USD

PRICE/SF

$57 USD /SF

CAP RATE

9.57%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zep Manufacturing

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

UTILITIES

-

CLEAR CEILING HT

14 Ft

DOCKS

4

DRIVE INS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1.17

LAND SF

50,965

ZONING

N/Av, Cleveland

APN/PARCEL ID

028-21-002

ASK ABOUT THIS PROPERTY

Peter DoughtyMarcus & MillichapMore Info
312-327-5470

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Peter DoughtyMarcus & MillichapMore Info
312-327-5470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.