14801 Broadway AveMaple Heights, OH 44137

Property Details for 14801 Broadway Ave

Year built

1975

Lot size

2.83 AC

Property size (Sq ft)

33,352 SF

Property type

Office properties

Property subtype

Other office properties

Description

This exceptional investment opportunity presents a 33,352 square foot, single-tenant office building located at 14801 Broadway Ave, Maple Heights, OH 44137. The property, situated on a 2.83-acre lot, boasts 165 parking spaces and enjoys excellent highway access via I-480. Currently 100% occupied by Remington College under a Net Lease (NNN) agreement expiring June 30, 2030 (5.6 years remaining), this Class B building offers a compelling 9.65% cap rate with a strong NOI of $363,881. The lease includes a beneficial 3% annual rent increase, ensuring consistent income growth. Remington College, established in 1987, has occupied the building since 2011, demonstrating long-term commitment. Recent renovations include a new culinary school (2023), a new welding school (2024), HVAC upgrades, and parking lot/sidewalk improvements. Built in 1975, this two-story building offers significant potential, including adaptability for multi-tenant use due to multiple entrances. The asking price is $3,771,000, translating to $113.07 per square foot. This is a rare opportunity to acquire a stable, high-yielding investment with a proven tenant and significant upside potential.

Location Insight

City

Maple Heights

County

Cuyahoga

State

Ohio

Latitude

41.4214

Longitude

-81.5769

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