NNN First Federal of Lakewood Bank Branch
For sale to qualified investors is the fee simple interest in the freestanding First Federal of Lakewood bank branch in Fairview Park, Ohio. The branch has been located here since 1991 and recently exercised one of three remaining five-year options. The lease is triple net including roof and structure, and is corporately guaranteed. The most unique aspect of this investment is the tenant’s obligation to pay annual CPI increases with NO CAPS. In the current and projected future inflationary environment, this will increase cash flow and overall return on an annual basis by a considerable amount. (From September 2020 to September 2021 the increase was 6%). The branch features a drive-thru corner location on Lorain Road, the busiest retail thoroughfare in Cleveland’s western suburbs, and is surrounded by other retailers, restaurants, and businesses.