AT&T

Mayfield Heights, OH

Offering Summary

  • Status: closed
  • Price: $2,050,000
  • CAP Rate: 7.15%
  • GLA: 5,383 SF
  • Net Operating Income: $146,584
  • Price/SF: $389.19
  • Year(s) Built: 1974
  • Lot Size (Acres): 0.42
  • Lease Type: Double Net
  • 3 Years Remaining on NN Lease; Original Tenant Since 2001
  • $27.23/SF NOI – Reasonable/Replaceable Rent
  • Tenant Since 2001; 4 Lease Renewals after Initial Term
  • 38,592 Cars/Day Located at Signalized Intersection Across from #1 Grocer in Market (Giant Eagle)
  • Newly Replaced (Nov 2020) $59K Roof
  • 0.2 Mile from Highway Exit Ramps of I-271 (122,983 Cars/Day)
  • Operated by Prime Communications (AT&T’s Largest Authorized Retailer, +/- 2,000 Locations)
  • Tax/Insurance Reimbursement; NOI/CAP Upside to Running Unreimbursed CAM Leaner
  • Dense/Affluent Demographic Base: 15,488 People within 1-Mile; 3-Mile AHHI of $99K, 5-Mile AHHI of $103K
  • Prominent Neighboring Retailers: Target, Costco, Walmart, Giant Eagle, Marshalls, Fresh Thyme, PetSmart, Old Navy, CVS, ALDI, Chick-fil-A, Starbucks, etc.
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director