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Octapharma | New 7 Yr Firm Term | Dense/Infill Market

656 E 105th St, Cleveland, OH 44108

Listing Price: $1,475,000

Cap Rate
6.75%
Tenant Name
Octapharma Plasma
Years Remaining On Lease
9.4
Gross SF
11,371
Guarantor
Corporate Guarantee
Rentable SF
11,371
Price/Gross SF
$129.72
Lease Type
Double Net
Rent Per Square Feet
$8.75

Investment Overview

Marcus & Millichap is pleased to present the offering for this Octapharma Plasma located at 656 E 105th Street in Cleveland, Ohio. This single tenant medical/retail office property has 9 years remaining on its original 10 year Double Net lease with a 5% rental increase coming in 2025. Additionally, there are three, 5-year renewal options with 5% rental increases in each option. There were recently $3,750 in roof updates as a preventative measure to extend its useful life.

The subject property is located near a signalized corner lot at the intersection of E 105th St. and St. Clair Ave, with excellent visibility, two access points and a large parking lot with 57 spaces. E 105th street sees over 11,000 vehicles per day and St. Clair avenue sees over 14,000. The property is located near multiple national tenants such as McDonald's, Rite Aid, Dollar General, USPS and more. It is situated just off of Interstate 90 and is 1.5 miles from the Cleveland Metroparks Lakefront and Rockefeller Park & Greenhouse.

Investment Highlights

  • 9 Years Remaining on the Original 10 Year NN Lease, With a 5% Rental Increase in 2025
  • Three, 5-Year Renewal Options with 5% Rental Increases
  • Strong Visibility From Signalized Intersection, Seeing 11,032 VPD Along 105th Street
  • Corporately Guaranteed Lease

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Discount

Octapharma | New 7 Yr Firm Term | Dense/Infill Market

Listing Price: $1,475,000

Cap Rate
6.75%
Tenant Name
Octapharma Plasma
Years Remaining On Lease
9.4
Gross SF
11,371
Guarantor
Corporate Guarantee
Rentable SF
11,371
Price/Gross SF
$129.72
Lease Type
Double Net
Rent Per Square Feet
$8.75

Investment Highlights

  • 9 Years Remaining on the Original 10 Year NN Lease, With a 5% Rental Increase in 2025
  • Three, 5-Year Renewal Options with 5% Rental Increases
  • Strong Visibility From Signalized Intersection, Seeing 11,032 VPD Along 105th Street
  • Corporately Guaranteed Lease

Investment Overview

Marcus & Millichap is pleased to present the offering for this Octapharma Plasma located at 656 E 105th Street in Cleveland, Ohio. This single tenant medical/retail office property has 9 years remaining on its original 10 year Double Net lease with a 5% rental increase coming in 2025. Additionally, there are three, 5-year renewal options with 5% rental increases in each option. There were recently $3,750 in roof updates as a preventative measure to extend its useful life.

The subject property is located near a signalized corner lot at the intersection of E 105th St. and St. Clair Ave, with excellent visibility, two access points and a large parking lot with 57 spaces. E 105th street sees over 11,000 vehicles per day and St. Clair avenue sees over 14,000. The property is located near multiple national tenants such as McDonald's, Rite Aid, Dollar General, USPS and more. It is situated just off of Interstate 90 and is 1.5 miles from the Cleveland Metroparks Lakefront and Rockefeller Park & Greenhouse.

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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