FOR SALE
7155 W Pleasant Valley Rd.
Parma, Ohio 44129
$324,900
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This building has been a Salon for 40 years! Building owner sold the 40 year salon business to the existing tenant two years ago. The tenant's lease has another 8 years left with many price increases built in.
Building is located on a corner lot on the Parma North Royalton boarder. This is truly a PASSIVE investment.
HIGHLIGHTS
- Passive investment
- Built in 1977
- Corner lot
- Ample parking
- A-Class location
- Owner pays Insurance ($1.475/yr)
- Owner pays Property Taxes ($10,712/yr)
- Owner pays for major building system repairs (Roof, HVAC, Main electrical etc)
- Tenant pays for all other building maintenance and repairs
- Tenant pays all utilities (Heat, Electric, Water & Sewer)
- Tenant pays for dumpster
- Tenant pays for snow removal
- Current rent is $3,000/mo. Per lease multiple increases have been built in.
- 2017 rent $3,150/mo
- 2019 rent $3,300/mo
- 2021 rent $3,450/mo
- 2023 rent $3,600/mo
- 2025 rent $3,750/mo
- 2027 rent $3,900/mo
- 2029 rent $4,050/mo
- Owner only maintenance expense was a $4,000 HVAC repair in 2015
- There were no owner paid maintenance expenses for all of 2016
- Net operating income $36,413/yr
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MOTIVATED SELLER BRING ALL OFFERS (NO OWNER FINANCING)
POSSIBLE TAX SAVINGS BONUS: Depreciation = $4,996/per year
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Copyright © 2016 The Holton-Wise Property Group, All rights reserved.
The Holton-Wise Property Group does not doubt the accuracy of any of the information contained herein. However we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of any property. Actual results may vary from any projections, opinions, assumptions, or estimates and you should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
The Holton-Wise Property Group
4207 Brookpark Rd. Parma, Ohio. 44134.
216-661-6633
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