Approximate Square Footage : 0
Price : $ 2,750,000.00
Description : PLEASE NOTE THAT BUYERS AND BUYERS' AGENTS ARE PROHIBITED FROM CONTACTING BUSINESS TENANTS WITHOUT OWNER'S PERMISSION. PROPERTY OVERVIEW: This 5.2 Acre Business Park property has a total of 6 buildings with an aggregate square footage of about 70,200 sq. ft. These Buildings are Class C buildings according to the Cuyahoga County. The buildings have varying ages ranging from 20 to 69 years. Five of the six buildings have fire-resistant walls and one of them has Wood Timber walls (this one has about 10,000 sq. ft. usable space.) Five (5) of the Buildings have forced air heating and one has its own heating & cooling system. The property has ample parking spaces for the tenants’ business Auto Trade Service customers. TENANT MIX: This Business Park has presently 21tenants plus one vacancy for a space that is configured as auto-detailing business. The current owner is continuing the practice of the prior owner of not having long-term leases. FINANCIAL HIGHLIGHTS: Business Park’s monthly rental income is $33,850. Its annual utility (primarily water) cost is about $13,000 and its estimated annual real estate taxes are $57,000. According to the CBRE Capitalization studies, Cleveland is a C rated real estate Market. ASKING PRICE: $2,750,000 with an underlying estimated Cap Rate of about 12.2% for an Owner/Operator. LOCATION: 15325 – 15375 Brook Park Road, Brook Park, OH 4412
