2900 Mayfield Rd
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2900 Mayfield Rd
2,500 SF Specialty Building Offered at $3,900,797 CAD at a 7% Cap Rate in Cleveland Heights, OH 44118
EXECUTIVE SUMMARY
LONG-TERM PASSIVE INVESTMENT: Whistle Express recently executed a brand new 20-Year NNN Lease with 2% annual increases backed
by Express Car Wash, LLC (Corporate Entity with over 150 units under management).
CORPORATE BACKED INVESTMENT: Formerly known as Magnolia Wash Holdings, Whistle Express is the 10th largest car wash operator,
having grown to over 150 locations following a significant growth capital investment from Oaktree Capital Management LP ($172B in AUM).
HIGH BARRIERS TO ENTRY & AUTOMOTIVE SYNERGIES: Limited opportunities for new express car wash or automotive use developments.
Close proximity to 6 dealerships and automotive service centers.
BONUS & ACCELERATED DEPRECIATION: Express car washes qualify for 15-Year Accelerated Depreciation as well as Bonus Depreciation.
Consulting your accountant or tax attorney is advised.
CLEVELAND HEIGHTS SUBMARKET: Densely populated & highly affluent market with 1.7% submarket vacancy (general retail). 17,429 population
in a 1-Mile Radius with an average Household Income of $77,576.
by Express Car Wash, LLC (Corporate Entity with over 150 units under management).
CORPORATE BACKED INVESTMENT: Formerly known as Magnolia Wash Holdings, Whistle Express is the 10th largest car wash operator,
having grown to over 150 locations following a significant growth capital investment from Oaktree Capital Management LP ($172B in AUM).
HIGH BARRIERS TO ENTRY & AUTOMOTIVE SYNERGIES: Limited opportunities for new express car wash or automotive use developments.
Close proximity to 6 dealerships and automotive service centers.
BONUS & ACCELERATED DEPRECIATION: Express car washes qualify for 15-Year Accelerated Depreciation as well as Bonus Depreciation.
Consulting your accountant or tax attorney is advised.
CLEVELAND HEIGHTS SUBMARKET: Densely populated & highly affluent market with 1.7% submarket vacancy (general retail). 17,429 population
in a 1-Mile Radius with an average Household Income of $77,576.
PROPERTY FACTS
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Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $72,971 CAD | |
| Land Assessment | $85,182 CAD | Total Assessment | $158,154 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$85,182 CAD
Improvements Assessment
$72,971 CAD
Total Assessment
$158,154 CAD
CONTACTS
-
Thiago Delia -
Aria Pournazarian -
Brody Hess -
Matthew Wallace -
Matthews Real Estate Investment Services
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2900 Mayfield Rd
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