Remington College | 14801 Broadway Ave
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Remington College 14801 Broadway Ave
33,352 SF 100% Leased Flex Building Maple Heights, OH 44137 $3,771,000 ($113/SF) 2.98% Cap Rate
Investment Highlights
- Single Tenant 100% occupied NNN Trade School College in business since 1987
- Long term occupancy
- Recent improvements include a new culinary school in 2023 and welding school in 2024
- Good location with immediate access to I-480
- The lease includes annual 3% rental increases allowing for consistent NOI growth
- Building can be easily converted to a multi-tenant use due to its multiple entrances.
Executive Summary
• Single Tenant 100% occupied NNN Trade School College in business since 1987
• Good location with immediate access to I-480
• Long term occupancy
• The lease includes annual 3% rental increases allowing for consistent NOI growth
• Recent improvements include a new culinary school in 2023 and welding school in 2024, in addition to new HVAC rooftop package units and upgrades to parking lot and sidewalk
• Building can be easily converted to a multi-tenant use due to its multiple entrances.
• Good location with immediate access to I-480
• Long term occupancy
• The lease includes annual 3% rental increases allowing for consistent NOI growth
• Recent improvements include a new culinary school in 2023 and welding school in 2024, in addition to new HVAC rooftop package units and upgrades to parking lot and sidewalk
• Building can be easily converted to a multi-tenant use due to its multiple entrances.
Property Facts
| Price | $3,771,000 | Rentable Building Area | 33,352 SF |
| Price Per SF | $113 | No. Stories | 2 |
| Sale Type | Investment NNN | Year Built | 1975 |
| Cap Rate | 2.98% | Parking Ratio | 3.69/1,000 SF |
| Property Type | Flex | Clear Ceiling Height | 22’ |
| Property Subtype | Light Manufacturing | No. Dock-High Doors/Loading | 4 |
| Building Class | B | No. Drive In / Grade-Level Doors | 6 |
| Lot Size | 3.40 AC |
| Price | $3,771,000 |
| Price Per SF | $113 |
| Sale Type | Investment NNN |
| Cap Rate | 2.98% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Lot Size | 3.40 AC |
| Rentable Building Area | 33,352 SF |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 3.69/1,000 SF |
| Clear Ceiling Height | 22’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 6 |
Utilities
- Gas - Natural
- Water - City
- Sewer - City
- Heating
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PROPERTY TAXES
| Parcel Number | 781-02-057 | Improvements Assessment | $487,450 |
| Land Assessment | $20,060 | Total Assessment | $507,510 |
PROPERTY TAXES
Parcel Number
781-02-057
Land Assessment
$20,060
Improvements Assessment
$487,450
Total Assessment
$507,510
zoning
| Zoning Code | Comm |
| Comm |
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Remington College | 14801 Broadway Ave
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