
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.
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