NTB & Moe’s

Mayfield Heights, OH

Offering Summary

  • Status: closed
  • Price: $4,215,000
  • CAP Rate: 7.00%
  • GLA: 14,557 SF
  • Net Operating Income: $295,089
  • Price/SF: $289.55
  • Year(s) Built: 1968
  • Lot Size (Acres): 0.73
  • Lease Type: NNN
  • Major Tenants: National Tire and Battery, Moe's Southwest Grill
  • Fully Occupied Two-Tenant Retail Center Located in Affluent Suburb of Cleveland, OH
  • Anchored by National Tire & Battery (72% of GLA) On Long Term Lease Through August 2033 with CPI Increases Every 5 Years
  • Strong Corporate Guarantee from TBC Corporation and Sumimoto Corporation on National Tire & Battery Lease
  • Located Next Door to New Mayland Mixed-Use Redevelopment: Starbucks Opened 2021, Sheetz and Raising Canes Under Construction
  • Co-Tenant with Moe’s Southwest Grill (Leased Through April 2027) Operated and Guaranteed by Multi-Unit Franchisee
  • Upcoming 15% Rent Increase in May 2022 for Moe’s Increases Cap Rate by 20bps
  • Situated on Mayfield Rd. (22,743 VPD) Approximately 1 Mile From Interstate 271 (100,207 VPD)
  • Dense/Affluent Demographic Base; 38,605 People Within 1-Mile; 5-Mile AHHI of $93K
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director