Free Standing Single Tenant Medical/Dental Building with NNN Lease.
This is an attractive STNL Investment opportunity with a long-term NNN tenant. Richmond Heights Dental Arts Building is a free standing dental office building, home to a long-term family dental practice. It is located on Chardon Road, a high-traffic area, and is adjacent to University Hospitals Richmond Medical Center, a large regional hospital. It is also surrounded by numerous national retailers and stable residential neighborhoods - both single-family and large apartment complexes. The long-standing history of continuous dental office use as well as the proximity to the hospital and medical office campus make this property a valuable addition to any investors portfolio.
|Property Type||Office Bldg|
|Property Use||Net Leased Property|
|Average Floor Size||4,329|
|Cap Rate Percentage||9.69|
|Building Size||4,329 SF|
|Lot Size||0.55 AC|
Existing Lease Through 10/31/2022. $4,100/Mo NNN
Densely Populated Area, Including Over 400 Apartments Within Walking Distance
High Traffic Area
Consistent Dental Use Since 1987
Long-term quality tenant with NNN lease.
Asking price is a 9.7% CAP!Property Features
|Location:||Directly across from University Hospitals Richmond Medical Center and in close proximity to may other health providers. Close to retail and densely populated residential neighborhoods. Convenient access to major highways including I-90, I-271 and OH-2. Located in high-traffic area with excellent visibility from Chardon Road. Close to Cuyahoga County Airport|
|Down Payment: $127,000|
|Gross Income: $49,200|
|Loan Payment: $28,076|