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Electronics

Verizon

5995 N Ridge Rd, Madison, OH 44057

Listing Price: $1,999,800

Cap Rate
6.70%
Tenant Name
Verizon
Years Remaining On Lease
9.5
Guarantor
Franchisee Guarantee
Rentable SF
3,000
Lease Type
Double Net
Rent Per Square Feet
$44.66

Investment Overview

Verizon is the largest wireless telecommunications provider in the United States. The company offers the largest 4G LTE network in America and the nation’s largest high-speed 3G network. For residential customers, Verizon FiOS is America’s largest 100 percent fiber-optic network to the home, providing the nation’s fastest, most consistent and most reliable Internet service, as well as TV with the best picture quality. For large businesses, Verizon is a global IP leader, operating one of the worlds’ most connected public Internet backbone networks, delivering solutions that let customers securely connect, communicate and collaborate around the globe. Madison is a village in Lake County, Ohio, originally incorporated in 1867 with an estimated population of 3,166 residents. It is situated within the Cleveland metropolitan area. Madison Township is one of five townships in Lake County, and is the largest township in Ohio by area. The township’s estimated population is just under 19,000 people.

Investment Highlights

  • Brand New 10-Year Lease with Verizon - 2020 Construction
  • 10 Percent Rental Increases Every Five Years
  • 60,205 Residents within a 10-Mile Radius - Cleveland MSA
  • Tenant is the Largest Verizon Retailer in the United States - Over 780 Locations
  • Across from Walmart-Anchored Center
  • Over 21,600 Cars Per Day at the Nearby Intersection of North Ridge Road and Green Road
  • Situated Along North Ridge Road (U.S. Route 20), a Major Thoroughfare with Access to Nearby Cities Including Painesville, Geneva, Ashtabula, and Cleveland
  • Close Proximity to Madison's Primary Retail Corridor - ALDI, Giant Eagle, Tractor Supply Co, Gordman's, Goodwill, and More

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $1,999,800

Cap Rate
6.70%
Tenant Name
Verizon
Years Remaining On Lease
9.5
Guarantor
Franchisee Guarantee
Rentable SF
3,000
Lease Type
Double Net
Rent Per Square Feet
$44.66

Investment Highlights

  • Brand New 10-Year Lease with Verizon - 2020 Construction
  • 10 Percent Rental Increases Every Five Years
  • 60,205 Residents within a 10-Mile Radius - Cleveland MSA
  • Tenant is the Largest Verizon Retailer in the United States - Over 780 Locations
  • Across from Walmart-Anchored Center
  • Over 21,600 Cars Per Day at the Nearby Intersection of North Ridge Road and Green Road
  • Situated Along North Ridge Road (U.S. Route 20), a Major Thoroughfare with Access to Nearby Cities Including Painesville, Geneva, Ashtabula, and Cleveland
  • Close Proximity to Madison's Primary Retail Corridor - ALDI, Giant Eagle, Tractor Supply Co, Gordman's, Goodwill, and More

Investment Overview

Verizon is the largest wireless telecommunications provider in the United States. The company offers the largest 4G LTE network in America and the nation’s largest high-speed 3G network. For residential customers, Verizon FiOS is America’s largest 100 percent fiber-optic network to the home, providing the nation’s fastest, most consistent and most reliable Internet service, as well as TV with the best picture quality. For large businesses, Verizon is a global IP leader, operating one of the worlds’ most connected public Internet backbone networks, delivering solutions that let customers securely connect, communicate and collaborate around the globe. Madison is a village in Lake County, Ohio, originally incorporated in 1867 with an estimated population of 3,166 residents. It is situated within the Cleveland metropolitan area. Madison Township is one of five townships in Lake County, and is the largest township in Ohio by area. The township’s estimated population is just under 19,000 people.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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