NEW YORK — Real estate brokerage and trading platform B+E announced the Tesla retail property located at 5180 Mayfield Road in Lyndhurst, Ohio, near Cleveland, is available for $6 million.
The 23,000-plus-square-foot building sits on 2.9 acres of land and the property carries a cap rate of 6% with a long-term net lease in place, according to B+E associate Spence Henderson.
“Tesla is set to deliver as many as 400,000 vehicles worldwide this year, roughly four times what it sold two years ago,” Henderson said. “With a market cap over $57 billion, Tesla is the third-most valuable automaker in the world and this is an excellent investment opportunity with a marquee brand name. The property is situated in close proximity to many of Cleveland’s top suburbs and is the only Tesla dealer in Cleveland, and one of two Tesla service centers in Ohio.”
Originally posted on Auto Dealer Today