5180 Mayfield Rd - Auto Dealership FOR SALE


Lyndhurst, OH 44124
$5,382,353 USD
847-562-8500
5180 Mayfield Rd, Lyndhurst, OH for Sale
$5,382,353 USD
Auto Dealership - FOR SALE
1/5
null | 6.8% Cap Rate

5180 Mayfield Rd
Lyndhurst, OH 44124


HIGHLIGHTS

  • Positioned within the Cleveland MSA
  • Mission Critical – Only 4 other Tesla sales & service centers in the State of Ohio
  • Investment grade tenant – Standard & Poor’s: BBB
  • Successful operating history since 2015
  • Large 2-acre parcel
  • 209,000+ people live within a five-mile radius

OVERVIEW

The Boulder Group and Bang Realty are pleased to exclusively market for sale a single tenant net leased Tesla sales and service center located within the Cleveland MSA in Lyndhurst, Ohio. Tesla has successfully operated at this location since 2015. In 2020, the lease was extended through January 2030, demonstrating commitment to the site. The lease contains three ?ve-year renewal options, each with rental escalations. This property serves as one of only ?ve Tesla sales and service centers in the state of Ohio (the only in the Cleveland MSA) and operates seven days per week. Tesla is investment grade and features a “BBB” rating by Standard & Poor’s. The 24,609 square-foot building bene?ts from its position along May?eld Road (21,800 VPD) and proximity to Interstate 271, which sees over 129,000 vehicles per day. The property is surrounded by nationally recognized retailers including CVS, Chase Bank, ALDI, Goodwill, PNC Bank, Cleveland Clinic, and 7Brew, among others. It is also just minutes from key local traffic drivers such as Charles F. Brush High School and May?eld Sand Ridge Golf Club. More than 209,000 residents live within a ?ve-mile radius, with an average household income exceeding $119,000. Tesla, Inc. is an American electric vehicle and clean energy company founded in 2003 by Martin Eberhard and Marc Tarpenning, with Elon Musk joining shortly after as an early investor and later becoming CEO. Headquartered in Austin, Texas, Tesla designs, manufactures, and sells electric vehicles, energy storage systems, and solar products. Its vehicle lineup includes the Model S, Model 3, Model X, and Model Y-among the world’s best-selling electric cars-as well as the Cybertruck, launched in late 2023. Tesla operates a growing network of Gigafactories worldwide, producing vehicles, batteries, and energy components that power both its automotive and renewable energy divisions.

FOR SALE DETAILS

PRICE

$5,382,353 USD

PRICE/SF

$230 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tesla Sales and Service Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

1.98 AC

LAND SF

86,249 SF

ZONING

C, Lyndhurst

APN/PARCEL ID

713-13-087

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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