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
Year Built: 1965
Level Number: 1
Average Floor Size: 4,329
Building Class: B
Cap Rate Percentage: 9.69
Listing ID: G87TVQ
MLS ID: 427742
Style: Other Style
Building Size: 4,329 SF
Lot Size: 0.55 AC

Property Highlights

Consistent Dental Use Since 1987

Long-term quality tenant with NNN lease.

High Traffic Area

Asking price is a 9.7% CAP!

Densely Populated Area, Including Over 400 Apartments Within Walking Distance

Existing Lease Through 10/31/2022. $4,100/Mo NNN

Property Features
Parking Places: 14
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
Financials
Down Payment: $127,000
Gross Income: $49,200
Loan Payment: $28,076
Additional Media