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Forest Hills Shopping Center 13520-13620 Euclid Ave 66,114 SF 100% Leased Retail Building Cleveland, OH 44112 $4,707,504 CAD ($71.20 CAD/SF) 10.69% Cap Rate



Investment Highlights
- 66,515 SF Neighborhood strip center
- 33% Vacancy (21,800 SF) creates immediate upside
- Demographic Density: 300K+ within 5 miles
- Offered at $51.12/SF, well below replacement cost
- Major urban corridor location near University Circle
Executive Summary
Anchor Retail is proud to exclusively offer for sale Forest Hills Shopping Center. It is a high-visibility neighborhood center strategically positioned at the heavily-traveled signalized intersection of Euclid Avenue and Superior Avenue in East Cleveland. The property offers over 66,000 square feet of single-story retail on four (4) acres with abundant front and rear parking, multiple access points, and new signage, creating a convenient and highly accessible shopping environment. The center draws consistent traffic from a dense urban trade area of more than 140,000 residents within three (3) miles, and benefits from a strong mix of national, regional, and local tenants serving everyday needs. Located just minutes from University Circle, the Cleveland Clinic Main Campus, University Hospitals, and Forest Hill Park, the asset is well-positioned to capture both neighborhood shoppers and substantial commuter and visitor flows. With meaningful upside from existing vacancy, excellent transit access via on-site bus stops and proximity to the RTA Superior Rapid Station, and continued institutional investment in Greater Cleveland’s east side employment and cultural hub, Forest Hills Shopping Center offers compelling long-term growth potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
66,114 SF
Building Class
C
Year Built/Renovated
1939/1982
Price
$4,707,504 CAD
Price Per SF
$71.20 CAD
Cap Rate
10.69%
NOI
$503,311 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.38
Lot Size
4.04 AC
Zoning
Commercial
Parking
207 Spaces (3.13 Spaces per 1,000 SF Leased)
Amenities
- Signalized Intersection
Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 672-19-001 | Improvements Assessment | $1,071,533 CAD |
| Land Assessment | $170,030 CAD | Total Assessment | $1,241,563 CAD |
Property Taxes
Parcel Number
672-19-001
Land Assessment
$170,030 CAD
Improvements Assessment
$1,071,533 CAD
Total Assessment
$1,241,563 CAD
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Forest Hills Shopping Center | 13520-13620 Euclid Ave
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