15751 Commerce Park Dr - Manufacturing FOR SALE


Brook Park, OH 44142
$749,000 USD
440-552-5858
15751 Commerce Park Dr, Brook Park, OH for Sale
$749,000 USD
Manufacturing - FOR SALE
1/7
null | 7.9% Cap Rate

15751 Commerce Park Dr
Brook Park, OH 44142


HIGHLIGHTS

  • 50+ Year, Long Term Single Tenant NNN Lease with strong National Tenant
  • NNN leased with 2.5% annual rental increases
  • Located in the shadow of the new $2.4 Billion Dollar Football Dome
  • 10,082 Sq.Ft. Warehouse w/1,300 Sq.Ft. Cooler space.
  • Just minutes away from major freeways, downtown Cleveland
  • Ideal 1031 Tax Exchange Property

OVERVIEW

Green Bridge Real Estate is pleased to offer a Rare Refrigerated, Distribution Warehouse Single Tenant Absolute NNN Leased investment property located at 15751 Commerce Park Drive in Brook Park, Ohio 44142. This Passive Investment with Zero Landlord Responsibilities has been 100% NNN leased to Smithfield Direct, LLC (a successor to Armour-Eckrich Meats, Conagra Foods, Eckrich & Sons, Inc.) for more than 50 years. The original lease was executed in 1968 and recently renewed for 3 years until May 31, 2028 with 2 additional 3 year options to renew with 2.5% annual rental increases. The 10,082 Sq.Ft. building was built in 1968 on approx. .70 Acres consisting of 7,200 Sq.Ft. of Warehouse, 1,600 Sq.Ft. of Office and 1,300 Sq.Ft. of Cooler space with 16’ clear heights and 1 dock and 2 drive ins. As part of the recent lease extension, ownership invested in the replacement of the existing HVAC unit. Located in the shadow of the New $2.4 Billion Dollar Football Dome to open in 2027, this property has an ideal location near new development, Highways I-71 and I-480 and should appreciate accordingly. Only 10 minutes southwest of Cleveland. Smithfield Direct boasts $14.1 Billion in 2024 companywide sales with 34,000 employees. Offered at a current 7.90% Capitalization Rate at the Asking Price of $749,000 or $74 per Sq.Ft. Ideal 1031 Tax Exchange property, please consult your tax professional for more details.

FOR SALE DETAILS

PRICE

$749,000 USD

PRICE/SF

$74 USD /SF

CAP RATE

7.9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Smithfield Direct Leased Investment

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Distribution, Refrigeration/Cold Storage

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

UTILITIES

-

CLEAR CEILING HT

16 Ft

DOCKS

2

DRIVE INS

2

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.78

LAND SF

33,798

ZONING

U5-C

APN/PARCEL ID

343-07-155

ASK ABOUT THIS PROPERTY

Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

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Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.