Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Midwest  + Retail  | 

Cleveland-Area Tesla Dealership Goes Up for Sale

Net lease real estate platform B+E is marketing a Tesla retail property in Lyndhurst, OH, near Cleveland. Asking price on the 23,428-square-foot dealership is $6 million.

“Tesla is set to deliver as many as 400,000 vehicles worldwide this year, roughly four times what it sold two years ago,” said Spencer Henderson of B+E. “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,” Henderson added.

The property at 5180 Mayfield Rd. in Lyndhurst carries a cap rate of 6%, with a long-term net lease in place.


Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With B+E's Henderson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition