Main Content
- Available Spaces: 8,587 SF
- Available Property: Two Adjacent Buildings - Four Tenants
- Request Info
- Full Offering Memorandum
138 & 32085 Lear Road & Electric Blvd
Agent(s): Shaun Brady
- Price $733,870
- Cap Rate 10%
- Status For Sale
- Property Type Investment Sales
About This Property
Avon Lake is a premier Westshore suburb of Cleveland, located on Lake Erie in Lorain County. The community is known for strong schools, high household incomes, low crime, and sustained residential growth — characteristics that support stable neighborhood retail demand.
• STABLE, DIVERSIFIED CASH FLOW - Four tenants across complementary uses reduce single-tenant risk.
• LONG-TERM ANCHOR - Fratello’s 30+ year occupancy demonstrates location durability and tenant stickiness.
• CLEAR UPSIDE PATH - Staggered expirations allow a new owner to engage tenants and capture market rent growth over time.
• ATTRACTIVE LEVERAGE RETURNS - At a 10% cap with 25%down, Year-1 cash-on-cash of ~12.6% rising toward 19% under modest growth assumptions.
• MANAGEABLE SCALE - ~8,600 SF is ideal for individual investors, 1031 exchange buyers, or small institutional portfolios.
• STRONG SUBMARKET - Avon Lake’s demographics and limited new commercial supply support long-term occupancy and rent retention.