Main Content
- Request Info
- Full Offering Memorandum
36701 American Way, Suite 7
Agent(s): Kyle Hartung
- Price $771,300
- Cap Rate 8.45%
- Status For Sale
- Property Type Investment Sales
About This Property
For sale to qualified investors is the triple-net-leased Dermatologists of Southwestern Ohio medical condo in Avon, Ohio. The practice is an original tenant since 2008 and extended their lease in 2019 by 8 years, showing their commitment to the site and market. Featuring over 3,000 square feet of fully built out medical space, the office sees patients from a wide geographic area in multiple counties. Because the developer of the project maintains common areas and the lease requires the tenant to reimburse for common area maintenance, real estate taxes, and insurance, this lease is hands off to the investor. The tenant is also responsible for the interior of their space and HVAC repairs and replacements. Offered at an 8.45% cap rate, this medical offering provides a higher rate of return than most competitive medical investments. Known as “American Way,” the complex has close access to Interstate 90 just one block east, and is home to numerous well-known tenants that draw clientele regionally, including the Buckeye Bank Headquarters, Cleveland Eye Clinic, Cleveland Clinic Family Health Center, Weston Dental, Lake Erie Crushers, and more.