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Papa Johns 5358 Turney Rd 1,274 SF Retail Building Garfield Heights, OH 44125 $1,066,030 CAD ($836.76 CAD/SF) 5.50% Cap Rate
Investment Highlights
- 11+ Years Remaining | Options To Extend | 8% Rental Increases | Top-Performing Store
- Dense Retail Corridor | Proximity To Community Anchors
- Strong Demographics In The 5-Mile Trade Area | Cleveland MSA
- Absolute NNN | Zero Landlord Responsibilities
- Frontage On Turney Rd (20,200 VPD) | Just Off I-480 (149,800 VPD)
Executive Summary
• Over 11 years of remaining term with four (4) 5-year renewal options
• 8% rental increases every five years throughout the primary term and option periods support NOI growth and provide a built-in hedge against inflation
• This location is a top-performing Papa Johns, ranking in the 93rd percentile nationally and 98th percentile in Ohio among comparable stores (Placer.ai)
• 8% rental increases every five years throughout the primary term and option periods support NOI growth and provide a built-in hedge against inflation
• This location is a top-performing Papa Johns, ranking in the 93rd percentile nationally and 98th percentile in Ohio among comparable stores (Placer.ai)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,274 SF
Building Class
C
Year Built
1948
Price
$1,066,030 CAD
Price Per SF
$836.76 CAD
Cap Rate
5.50%
NOI
$58,666 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
TRCMU - Turney Road Core Mixed-Use
Parking
4 Spaces (3.14 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 542-30-009 | Improvements Assessment | $95,535 CAD |
| Land Assessment | $10,932 CAD | Total Assessment | $106,467 CAD |
Property Taxes
Parcel Number
542-30-009
Land Assessment
$10,932 CAD
Improvements Assessment
$95,535 CAD
Total Assessment
$106,467 CAD
Contacts
-
William Donlon -
Michael Grunberg -
Nick Santagata -
Sarah Shanks -
SRS National Net Lease
1 of 6
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Photos
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Papa Johns | 5358 Turney Rd
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