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Listed By
Agency Name: Howard Hanna
Agency Contact: Rob@supremeret.com, 440-341-9800
Shown By
Agent Name: Denise Evans
Agent Phone: (330) 575-1832
Agency Title: Cutler Real Estate
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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.
Property Features
Property Type: Commercial - Business
Basement: None
Cooling: Central Air
Heating: Forced Air, Gas
Lot Size: 4.58 Acres
Stories: 2.0
Taxes: $42,335 / year
Year Built: 1973
Feature Descriptions
Building Features: Cafeteria
Parcel#: 455-01-001
Parking: Paved, Parking Lot
Sewer: Public Sewer
Water: Public
Local Schools
School District: Parma City
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8555-8735 Day Drive | MLS# 5233258
This commercial property located at 8555-8735 Day Drive, Parma, OH 44129 is currently listed for sale with an asking price of $3,999,000. 8555-8735 Day Drive is located within the Parma City school district. Search Parma real estate on devans.cutlerhomes.com today.