Property Listing No Longer Available for Sale

1365 Chardon Rd, Euclid, OH

Industrial for Sale - $699,000 - 69,000 Sq. Ft. on 2.65 acres


Property Info

CIMLS#131719
Location
  1365 Chardon Rd
  Euclid OH 44117
UpdatedJanuary 21st, 2011
TypeIndustrial
Price$699,000
Building69,000 Sq. Ft.
Land2.65 acres

Property Description

The Only Turn Key Propety that Generates $7,400/month that you'll find in this area for this price!!! The true CAP RATE is 12.7% Current Tenant leasing full office and warehouse for $5700/month. The cell tower has a long term contract that currently pays $1700/month to the landlord, with more and more servicers adding devices and increasing the cell tower rent an average of $100 every 6 months. Tenant is Aable Rents, currently on a Triple Net Lease... pays nearly everything: Property Taxes, Insurance, Maintenance, All Utilities, etc... Tenant has been there for 10 years and pays rent on time, as stable as you can find in this type of Economy.

Building has Operational Cranes throughout the majority of the warehouse area with 25-35 foot ceilings throughout. Parking lot is accessible from 3 entrances and the warehouse has 5 Large Bay doors for convenient access.

There is substantial parking for office employees and warehouse. Currently during the busy season the warehouse parking lot alone can accomodate approximately 15 trucks.


Financials

Tenant on NNN Lease and pays absolutely everything outside of the landlord's mortgage. Total monthly rent is $5,700 from Tenant, and $1700 from cell tower (which goes up about $100 every six monthly). Assuming 20% down, mortgage rate at 4.96% @ 30yr, mortgage is $2,988.25/month. Current Monthly Income is $4,411.75! No better buy if you are looking for a TURN KEY Investment that generates Lots of Positive Monthly Income.