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33488482
33488480

1443 Nagel Road, Avon, OH 44011

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
EP
OH 2004010274, WA SAL.2004010274
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland
$10,400,000
6 days on market
Updated 6 days ago

Nagel Crossing

Details
APN 04-00-028-101-130
Property Type Retail
Sub Type Shopping Center
Square Footage 16,563
Cap Rate 6.50%
NOI $676,107
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $628
Class A
Year Built 2024
Buildings 3
Acreage 2.720
Parking Spaces 113 spaces
Parking Per SqFt 6.82
Investment Type Stabilized

Retail | 6.50% CAP | 16,563 SqFt

Marketing description

Nagel Crossing is a trophy new construction retail offering in the affluent West Cleveland trade area. This 3-building, 100% leased development features national tenancy and strong embedded rent growth, positioned at the signalized hard corner location of Nagel Rd & Chester Rd with immediate access to I-90 Interchange - 89,090 VPD.

The property is surrounded by major retailers including Costco, Target, Walmart, Lowe's, Meijer, Dick's, and Cabela's, and is adjacent to Cleveland Clinic Avon Campus - a major employment driver with a $340M planned expansion. The trade area boasts an affluent and dense demographic profile with $161K+ AHHI within 1 mile, 50,000+ residents within 3 miles, and 118,000+ within 5 miles.

This e-commerce resistant tenant mix includes food, beverage, fitness, and service retail - all daily needs drivers. The property features predominantly NNN lease structure with reimbursement for administrative fees, a WALT of 7.6 Years with limited near-term rollover, and includes a free standing STNL Starbucks with Drive Thru on a 10 Year Lease.

Investment highlights

  • Signalized Hard Corner Location at Nagel Rd & Chester Rd with Immediate Access to I-90 Interchange - 89,090 VPD
  • Newly Constructed 2024 Multi-Building Retail Development in Affluent Cleveland Market
  • Free Standing STNL Starbucks with Drive Thru – 10 Year Lease
  • WALT - 7.6 Years - Limited Near-Term Rollover
  • Predominantly NNN Lease Structure with Reimbursement for Admn Fees
  • Shadow-Anchored by Major Retail Corridor - Avon Commons - 7.8M Annual Visits
  • Surrounded by National Retailers - Costco, Target, Walmart, Lowe's, Meijer, Dick's, Cabela's, etc.
  • Adjacent to Cleveland Clinic Avon Campus - Major Employment Driver - $340M Planned Expansion
  • Affluent & Dense Demographic Profile - $161K+ AHHI (1-Mile), 50,000+ Residents within 3 Mi, 118,000+ within 5 Mi.
  • E-Commerce Resistant Tenant Mix - Food, Beverage, Fitness, Service Retail – Daily Needs Drivers

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
EP
OH 2004010274, WA SAL.2004010274
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$676,107.00
$56,342.25/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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