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Walgreens 20485 Euclid Ave 14,408 SF Retail Building Euclid, OH 44117 $5,167,788 CAD ($358.67 CAD/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease with Rental Growth
- Cleveland Clinic Euclid Hospital
- Strong Corporate Guarantee
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Walgreens located at 20485 Euclid Ave, Euclid, OH 44117. The site consists of roughly 14,408 rentable square feet of building space on an estimated 1.25-acre parcel of land. This Walgreens is subject to a 15-year Triple Net (NNN) lease, which commenced 2/23/2023. The current annual rent is $232,800 and has scheduled increases of 5.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,408 SF
Building Class
B
Year Built
2010
Price
$5,167,788 CAD
Price Per SF
$358.67 CAD
Cap Rate
6.25%
NOI
$322,987 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.25 AC
Opportunity Zone
Yes
Zoning
U4
Frontage
267’ on Euclid Ave
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 646-28-071 | Improvements Assessment | $548,844 CAD |
| Land Assessment | $398,434 CAD | Total Assessment | $947,278 CAD |
PROPERTY TAXES
Parcel Number
646-28-071
Land Assessment
$398,434 CAD
Improvements Assessment
$548,844 CAD
Total Assessment
$947,278 CAD
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Walgreens | 20485 Euclid Ave
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