SINGLE-TENANT AUTOMOTIVE BUILDING: The Subject Property is occupied by a Drivechoice company and utilized as an automotive storage lot and reconditioning facility servicing their main dealership, Honda of Cleveland Heights, which is across the street. The Lease has less than 4 years remaining on the original 10 year lease with no option to extend.
COMPANY OVERVIEW: DriveChoice is a multi-brand automotive dealership group specializing in the sale of new, used, and certified pre-owned vehicles. They operate 11 dealerships locations spanning from Ohio, Florida, and New Jersey, the company offers a broad selection of vehicle brands including Ford, Mitsubishi, Honda, Hyundai, Kia, Nissan, and Volkswagen.
PASSIVE INVESTMENT: Net Lease opportunity with 3% annual increases and limited Landlord responsibilities.
HIGH BARRIERS TO ENTRY & AUTOMOTIVE SYNERGIES: Urban infill location with limited opportunities for new automotive uses or developments. Close proximity to 6 automotive dealerships and service centers.
CLEVELAND HEIGHTS SUBMARKET: Densely populated surrounding market area, population of ±17,500 and ±$77,500 average household income in a one-mile radius.
POSSIBLE OWNER/USER INVESTMENT: Contact Broker For More Information.