Carvana | Warrensville Heights, OH
Abs NNN Lease | 14 Yrs Remaining | Jan. 2028 Rent Bump | Interstate Visibility
Investment highlights
Long-Term Passive Lease
Carvana has 14 years remaining with four five-year options to renew on an Absolute NNN lease with zero landlord management or responsibilities
Corporate Guarantee
The lease is corporately guaranteed by Carvana LLC (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, with 2025 revenue of more than $20.3B.
Upcoming January 2028 Rent Bump
The lease offers steady income growth with built‑in rent bumps every five years throughout the remaining base term and the 4x5 year renewal options. The next rent increase hits in January 2028, creating an immediate lift in income that strengthens overall performance for investors.
Interstate Visibility and Access
The Property - with its 8-story Car Vending Machine - features significant frontage and excellent visibility from I-271 (158,700 VPD) and has access to the interstate less than a mile away via Emery Road (14,100 VPD) and Richmond Road (23,500 VPD).
Main Retail Area
Surrounded by numerous national retail tenants including Whole Foods Market, ALDI, BJ's, Marshalls, Panera Bread, DSW, Planet Fitness, CVS Pharmacy, Buffalo Wild Wings, HomeGoods, Chipotle, Five Below, Chick-Fil-A, Value City Furniture, Dollar Tree, Olive Garden, KFC, Wendy's, Burger King and multiple hotel chains including Marriott, Courtyard Marriott, AC Hotel by Marriott, ALOFT, Embassy Suites, Hampton Inn & Suites, Resicence Inn and more.
Complementary Uses/Built-In Customer Base
Carvana is in close proximity to several large employers and economic drivers including Cuyahoga Community College (42,000 students), Cleveland Clinic Hospital and administrative offices, UH Ahuja Medica Center, Regency Hospital, Ohio Department of Transportation and more; these drivers lead to a 25,000 increase in daytime population in the 5 miles surrounding the Property.
Dense, Affluent Cleveland MSA Demographics
Part of the Cleveland MSA, Warrensville Heights is only 16 miles from Downtown Cleveland and features more than 182,000 residents and Average Household Incomes of more than $110,000 in the 5 miles surrounding the Property.
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