7901 OLD GRANGER RD Garfield Heights OH 44125-4850

FOR SALE: Fully leased 4.62 acre outdoor industrial storage in Cleveland MSA | NN

Introducing an exceptional investment opportunity located at 7901-8001 Old Granger Road, Cleveland, Ohio. This property features a new 10-year corporate lease with United Rentals, the world's largest equipment rental company and a Fortune 500 company. Situated on a 4.62-acre ground storage site, this property includes an 8,882 SF warehouse/office building with landlord only responsible for roof and structure. The remainder of the leased area is on a triple net (NNN) basis.

United Rentals recently expanded at this location, re-committing to this site for the next 10 years. United Rentals uses this location for storage servicing their portable restroom and sanitary rentals for the Northeast Ohio market.

The property is strategically located at the nexus of Cleveland’s two major highway systems (I-480 and I-77), in a industrial corridor that is well established. Cleveland is the 33rd largest Metropolitan Statistical Area (MSA) in the country, with a population of 2.1 million people. With excellent highway access and a central location, this property offers unmatched convenience.

The lease terms include two 10-year leases, one Absolute Net and one Double Net, with yearly increases (2% per year) in rent throughout the 10-year term. Pricing guidance is $2,850,000 representing a 6.71% cap rate on year 1 income. Seller financing available. The double net lease has very limited landlord responsibilities, with landlord responsible for roof and structure for the small office and warehouse building that United Rentals utilizes.

Seller willing to finance the property with competitive terms for borrower.

Don't miss the chance to acquire this income-generating asset. Contact us today for more information on this outstanding opportunity at 8001 Old Granger Road, Cleveland, Ohio.

• 4.62 acre industrial outdoor storage (IOS) location fully leased with a 10-Year Corporate Lease with United Rentals (NYSE: URI)

• United Rentals Is the World’s Largest Equipment Rental Company and A Fortune 500 Company

• Cleveland MSA (33rd Largest in Country, 2.1 Million People)

• 4.62 Acre paved ground storage Site with 8,882 Sf Warehouse/office Building

• Limited Landlord Responsibilities

• Two (2) 10-Year Leases on Site; One Triple Net (NNN) and One Double Net (NN)

• Approximately 2.0% Yearly Increases in Rent Throughout 10-Year Term and renewal periods

• Excellent Highway Access in Central Location

• $2,950,000; 6.48% cap rate on current income