For Sale
$12,000,000

6245 Wilson Mills RdHighland Heights, OH 44143

High-yield, NNN-leased Kohl's storefront.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A retail investment opportunity presents a 80,371 square foot Kohl's storefront located at 6245 Wilson Mills Rd, Highland Heights, OH 44143. The property sits on a 5.11-acre lot and boasts a strong 8.54% cap rate with a current NOI of $1,024,730. The asking price is $12,000,000 ($149.31/sq ft). Built in 1995, this single-tenant, 100% occupied property features a long-term NNN lease expiring in 2028, with four 5-year options remaining. The lease includes rent increases every five years, and the tenant is responsible for roof, HVAC, and parking lot maintenance. Taxes are paid directly by the tenant (own tax parcel). This prime location benefits from high traffic counts (39,000 cars/day), proximity to I-271, and strong demographics (140,000 people within 5 miles, average household income of $107,037 within 1 mile). The property is adjacent to Home Depot and Big Lots, and across the street from Progressive Insurance HQ. The building itself is a Class A brick construction. The tenant, Kohl's, also includes a Sephora store within this location. Moody's assigns a Baa2 credit rating to the tenant. This is a rare opportunity to acquire a stabilized, high-performing retail asset with a strong tenant and excellent location.

Highlights

  • Long-term NNN lease expiring in 2028.
  • Tenant responsible for roof, HVAC, and parking lot maintenance.
  • Tenant pays property taxes directly (separate tax parcel).
  • Rent increases every five years; four five-year options remain.
  • Sephora anchor tenant.
  • Excellent location adjacent to I-271 exit, Home Depot, and Big Lots.

Property Details for 6245 Wilson Mills Rd

Property type
Retail properties, Retail space
Square Feet
80,371 SF
Class
A
Year Built
1995
Lot Size (sq. ft)
222,592 SF
Units
1

Location Insight

City
Highland Heights
County
Cuyahoga
State
Ohio
Latitude
41.540630204613
Longitude
-81.454206080651
6245 Wilson Mills Rd, Highland Heights, Ohio

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6245 Wilson Mills Rd
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