5349-5359 Mayfield Rd
Cleveland, OH 44124
Retail Property For Sale

For sale to qualified investors is Mayfield Plaza, a well-located, generationally-owned, retail strip center in one of Cleveland’s most well-known commercial corridors – Mayfield Road. The property is currently 100% leased and is anchored by long-term tenant Bangkok Thai in 52% of the GLA. The property spans two intersections on Mayfield Road and features access on each street, Irene Road and Churchill Road. This 6,380 square foot retail property is the center portion of a larger retail building with an additional owner on each side and cross-parking and access across all three parcels. This asset has been a long-term hold for the seller and is available for the first time in decades. With average in-place rents of only $10.59 psf, the property has tremendous upside as similar spaces lease for significantly higher rents throughout this trade area. The property is located in Lyndhurst, Ohio, which is an eastern suburb of Cleveland and has over 200,000 people living in just 5 miles of the site. Mayfield Road has long been known as the main shopping and business area serving all of Cleveland’s eastern suburbs and it is common for every national, regional, and local retailer to have a presence somewhere on this road.