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Land for sale in Richmond Heights Ohio

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$1,206,245 1.99 acres
690 Richmond Road, Richmond Heights, OH 44143 - Cuyahoga County

1.99 acres Richmond Heights, OH

CBRE is pleased to exclusively present for sale this 3,650 square foot Citizens Bank situated on nearly 2 acres in Richmond Heights, Ohio. This is a NNN lease with no landlord responsibilities or expenses. Citizens Bank has been at this location since 2006, and recently extended its lease for an additional 5 years, leaving 6 years remaining in the base term with two, five year options to renew. The current net operating income is $109,659, however taking into consideration the rental decrease in 2018, this offering memorandum has based pricing on a 6 year average NOI of $84,437. Citizens Bank is an Investment Grade Credit Tenant rated A-by Standard & Poor's.