For Sale
$1,725,000

15708 Industrial PkwyCleveland, OH 44135

30,055 SF, 9.57% Cap Rate, 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 30,055-square-foot industrial distribution property in Cleveland, Ohio. Located at 15708 Industrial Parkway, this single-tenant asset boasts a strong 10-year absolute net lease with a reputable tenant, Modular Systems Technicians (MST), a full-service commercial furniture installation company with a 10+ year history at this location. The lease includes 3% annual rental increases and two five-year options, minimizing landlord responsibilities. The property sits on approximately 1.17 acres and features four external docks and a 14-foot clear height. The building is predominantly warehouse/manufacturing space (86%), with minimal office build-out. This strategically located property benefits from proximity to major transportation arteries, including Interstates 71 and 480 (less than two miles), and Cleveland Hopkins International Airport (less than three miles). The property's strong location within a low-vacancy industrial park contributes to its exceptional investment potential. With a current asking price of $1,725,000, the property generates a net operating income (NOI) of $165,028, resulting in an attractive 9.57% capitalization rate. This sale-leaseback structure offers a secure, passive income stream with significant long-term growth potential in a robust Cleveland industrial market. The property's APN is 028-21-002.

Highlights

  • 10-Year single-tenant sale-leaseback opportunity with an Absolute Net Lease, minimizing landlord responsibilities.
  • Excellent location in a low-vacancy industrial park with a 0.50% vacancy rate for Class B & C industrial space within three miles.
  • 30,055 SF industrial building (86% warehouse/manufacturing) on ~1.17 acres with four docks and 14' clear height.
  • Prime location: <2 miles to I-71 & I-480, <3 miles to Cleveland Hopkins International Airport.
  • Strong financials: $1,725,000 asking price, $165,028 NOI, 9.57% cap rate, 3% annual rent increases, two 5-year options.

Property Details for 15708 Industrial Pkwy

Property type
Industrial properties, Distribution centers
Square Feet
30,055 SF
Lot Size (sq. ft)
50,965 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.425378199487
Longitude
-81.807442114803
15708 Industrial Pkwy, Cleveland, Ohio

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15708 Industrial Pkwy
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