Listed by Encore Real Estate Investment Services
$1,800,000
VERIZON
Details
Property Type Retail
Sub Type Storefront
Square Footage 3,000
Cap Rate 7.82%
NOI $140,774
Tenancy Single
Brand/Tenant Verizon Wireless
Lease Type NN
Lease Expiration 11/26/2028
Rent Bumps Yes
Lease Options Two (2) - Five (5) Year Options
Price per SqFt $600
Year Built 2019
Acreage 1.090
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 11/27/2018
Ground Lease No
Ownership Fee Simple
Retail | 7.82% CAP | 3,000 SqFt
Investment highlights
- Lease Guaranteed From The Third Largest Verizon Retailer With $2+ Billion In Annual Revenue | Strong Operator (Cellular Sales of Knoxville, INC) with Over 850 Locations Across 43 States
- 2018 Build-To-Suit For Verizon
- Double Net Lease With Minimal Landlord Responsibilities - Transferable Roof Warranty Through November 2033
- Traffic Counts Boast 27,000 VPD+ Along OH-44
- Upscale Demographics | Average Household Income Exceeds $160,000 in a 1-Mile Radius | Population Exceeds 62,000 Within 5-Miles
- Total Customer Spending Exceeded $850,000,000 In 2025 Within a 5-Mile Radius
- 10% Rental Increases Every 5 Years
- Across The Street From University Hospitals TriPoint Medical Center | Home To 269 Staffed Beds and 850 Employees
- 30 Miles To Downtown Cleveland
- Neighboring Retailers/Economic Drivers Include: Quail Hollow Country Club Home To Two Championship 18-Hole Courses, Chipotle, Starbucks, Lucky's Market, Huntington Bank, Taco Bell, McDonald's, and Many More
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$140,774.00
$11,731.17/mo
Valuation Metrics
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DSCR
7.82%
Cap Rate
7.82%
ROI
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