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$3,999,000
Est. payment /mo
4.58 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Ely
MLS Listing ID 5233258
HOA Y/N No
Year Built 1973
Annual Tax Amount $42,335
Tax Year 2025
Lot Size 4.576 Acres
Acres 4.5762
Property Sub-Type Other
Property Description
Stabilized NNN investment in Parma, Ohio's largest suburb. ±60,165 SF two-level building; the entire ±31,500 SF first floor is 100% leased to Oakmont Education (charter-school operator) under two triple-net leases with matching terms through 6/30/2036 with two 5-year options to 2046. Priced at $3,999,000 — 8.5% cap on ±$339,635 stabilized NOI. Tenant pays taxes, insurance & CAM; controllable costs capped at 4%/yr. Recently recapitalized: new roof, HVAC, exterior paint, ±47,500 SF parking, ~$399K school build-out. Upside: vacant ±28,665 SF second-floor storage plus a contractual +$20,365/yr rent step-up (by 9/1/2028). Prime Ridge Rd (SR-3) location, 27,600+ VPD, ±0.5 mi to 332-bed UH Parma Medical Center; 240,000+ residents within 5 miles. Verify all figures in diligence.
Location
State OH
County Cuyahoga
Rooms
Basement None
Interior
Heating Forced Air, Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features Paved, Parking Lot
Water Access Desc Public
Building
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Parma Csd - 1824
Others
Tax ID 455-01-001
Special Listing Condition Standard
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Listed by Robert L Rogers • Howard Hanna • Rob@supremeret.com, 440-341-9800
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