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Speedway(7-Eleven Guaranty) New 15-Year Lease 4280 W 150th St 3,542 SF Retail Building Cleveland, OH 44135 $6,700,000 ($1,891.59/SF) 5.25% Cap Rate
Executive Summary
NEW CORPORATE SPEEDWAY LEASE 14+ YEARS REMAINING: Lease Commenced December 12, 2025 And Runs Through December 31, 2040; Corporate Guaranty And Absolute Net Structure With No Landlord Responsibilities
4.5 MILES FROM CLEVELAND HOPKINS 10M ANNUAL PASSENGERS: The Subject Is Approximately 4.5 Miles From Cleveland Hopkins International Airport, Which Handled 10 Million Passengers In 2025 And Ranks As Ohio’s Busiest Airport
10% RENT INCREASE IN YEAR 11 + FIVE 5-YEAR OPTIONS: Annual Base Rent Steps From $351,459.36 To $386,605.32 In January 2036, With Additional 10% Increases At The Start Of Each Five-Year Renewal Option; Options Extend Potential Occupancy Through 2065
ADJACENT MEDICAL + OFFICE DEMAND - METROHEALTH & PNC: MetroHealth’s West 150th Health And Surgery Center Is Located At 4330 West 150th Street, While The PNC Bank Operations Center At 4100 West 150th Encompasses Approximately 262,088 SF Along The Same Corridor
TRUE I-71 INTERCHANGE LOCATION 50 YEAR HISTORY AT LOCATION: Speedway Is Positioned At West 150th Street And I-71 (102,540 VPD) On I-71 And 35,430 VPD On West 150th Street
DENSE INFILL TRADE AREA 307,774 RESIDENTS WITHIN FIVE MILES: 2025 Estimates Show 110,176 Residents Within Three Miles And 307,774 Within Five Miles, Supported By A Five-Mile Daytime Population Of 136,175 And Average Household Income Of $84,201
4.5 MILES FROM CLEVELAND HOPKINS 10M ANNUAL PASSENGERS: The Subject Is Approximately 4.5 Miles From Cleveland Hopkins International Airport, Which Handled 10 Million Passengers In 2025 And Ranks As Ohio’s Busiest Airport
10% RENT INCREASE IN YEAR 11 + FIVE 5-YEAR OPTIONS: Annual Base Rent Steps From $351,459.36 To $386,605.32 In January 2036, With Additional 10% Increases At The Start Of Each Five-Year Renewal Option; Options Extend Potential Occupancy Through 2065
ADJACENT MEDICAL + OFFICE DEMAND - METROHEALTH & PNC: MetroHealth’s West 150th Health And Surgery Center Is Located At 4330 West 150th Street, While The PNC Bank Operations Center At 4100 West 150th Encompasses Approximately 262,088 SF Along The Same Corridor
TRUE I-71 INTERCHANGE LOCATION 50 YEAR HISTORY AT LOCATION: Speedway Is Positioned At West 150th Street And I-71 (102,540 VPD) On I-71 And 35,430 VPD On West 150th Street
DENSE INFILL TRADE AREA 307,774 RESIDENTS WITHIN FIVE MILES: 2025 Estimates Show 110,176 Residents Within Three Miles And 307,774 Within Five Miles, Supported By A Five-Mile Daytime Population Of 136,175 And Average Household Income Of $84,201
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
3,542 SF
Building Class
C
Year Built/Renovated
1976/1999
Price
$6,700,000
Price Per SF
$1,891.59
Cap Rate
5.25%
NOI
$351,459
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.96 AC
Zoning
RO
Parking
20 Spaces (5.65 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 027-25-001 | Improvements Assessment | $166,215 |
| Land Assessment | $137,130 | Total Assessment | $303,345 |
Property Taxes
Parcel Number
027-25-001
Land Assessment
$137,130
Improvements Assessment
$166,215
Total Assessment
$303,345
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