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23364892
23364893

3171 West Blvd, Cleveland, OH 44111 For Sale

SS
MI MI 6502426558
Exclusive Realty
Listed by Exclusive Realty
$4,430,769
68 days on market
Updated 68 days ago

CVS Pharmacy

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Square Footage 11,625
Net Rentable (SqFt) 11,625
Units 1
Cap Rate 6.5%
NOI $288,000
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Term 31.6
Lease Expiration 10/02/2031
Remaining Term 5.2
Rent Bumps Yes
Lease Options 10 (5) Year Options
Year Built 2000
Buildings 1
Stories 1
Acreage 1.750
Zoning Commercial
Parking Spaces 62 spaces
Parking per 1,000 SqFt 5.33
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/29/2000

Retail | 6.50% CAP | 11,625 SqFt

Marketing description

Exclusive Realty is pleased to present this exceptional 11,625 SF CVS Pharmacy, boasting a prime location in Cleveland. Constructed in 2000, this wellmaintained building consists of one spacious unit, offering a versatile space for retail businesses. Zoned LR-C1, the property provides an ideal environment for a wide range of retail ventures. With ample parking and easy access, it caters to both tenants and customers. The modern design and layout of the property further enhance its appeal, providing a ready canvas for customization and branding. Positioned in a thriving commercial area, this property presents an excellent opportunity for investors seeking a valuable asset in the Cleveland market.

Investment highlights

  • 11,625 SF building, zoned LR-C1

  • Built in 2000 with a modern design and versatile space, offering a contemporary retail environment

  • Prime location in the vibrant Cleveland area, attracting high foot traffic

  • Triple Net (NNN) lease structure with zero Landlord responsibilities

  • Situated in close proximity to Northwest Freeway, I 90

  • Positioned near key local national retailers, driving consistent consumer demand

  • Average household income of $65k+ within a 3-mile radius

  • Average population of 162k+ residents within a 3-mile radius

  • 13,000+ Vehicles per day on Lorain Avenue

  • Ranked in the 83rd percentile of CVS stores Statewide for store visits according to Placer.ai

Listing Contacts

SS
MI MI 6502426558
Exclusive Realty
Listed by Exclusive Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$288,000.00
$24,000.00/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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