Net Leased Verizon Sold In Cleveland MSA Date October 20, 2025
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Verizon located at 5995 North Ridge Road in Madison, Ohio for $1,999,000.
The 3,000 square-foot net leased Verizon is strategically located along North Ridge Road (15,400 vehicles per day). Situated on an outparcel of Walter Green Commons, a shopping center anchored by Walmart Supercenter, it is joined by tenants including Murphy USA, Dollar Tree, Sally Beauty, Great Clips, and Classic Clean Auto Wash. The property is approximately one mile west of major retailers such as Giant Eagle, ALDI, Tractor Supply Company, McDonald’s, Wendy’s, Mod Wash, and others. Madison High School, with an enrollment of 800 students, is just a few minutes south. Within a five mile radius, the population exceeds 23,500, with an average household income surpassing $98,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based investment firm, and the buyer was a West coast based investment firm.
Cellular Sales of Knoxville, Inc., founded in 1993 by Dane and Margaret Scism, is a leading Verizon authorized retailer headquartered in Knoxville, Tennessee. Starting with a single retail kiosk, the company has grown to nearly 800 stores across 42 states, employing over 7,000 team members and generating annual revenues exceeding $1.5 billion.
“The tenant is an established Verizon operator with over 800 locations” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “We were able to secure a buyer without even marketing the asset as the price point and lease term were ideal.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
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