6720 130Th St, Parma Heights, OH 44130
3,400 SF | 100% Leased | Retail Building | Parma Heights, OH 44130 | $2,000,000 ($588/SF) | 5% Cap Rate
For Sale
Active
Asking Price $2,000,000
- Property Type
-
Retail
- Square Feet
- 3,400 SF
- Price / Square Foot
- $588
Listing Contacts
Kyle Hartung
Property Overview
For sale to qualified investors is the fee simple interest in the brand-new WetGo Car Wash located in Middleburg Heights, Ohio. The NNN ground lease is corporately guaranteed by Giant Eagle, Inc., one of the largest supermarket chains in the United States with annual sales over $11 Billion, and is signed by GetGo Operating, LLC, a subsidiary with over 270 fuel stations throughout the region. The ground lease has a rare initial term of 20 years with increases every 5 years, and is hands-off to the landlord. Giant Eagle completed construction of the prototypical new facility in 2024 and held its grand opening to the public on January 25, 2024. The property is located adjacent to a brand-new Starbucks at the corner of West 130th Street and Pearl Road. With access to both legs of this intersection, daily traffic is over 40,000 cars per day. Nearby major retailers include Giant Eagle grocery store, BJ’s Wholesale Club, Marshall’s, Petco, Burlington, OfficeMax and more. Additionally, Aldi, Chipotle, Citizen’s Bank, AT&T, Smoothie King and others are also new to this intersection. The property is situated in the center of an extremely dense population base with over 82,000 people in just a 3 miles radius and corresponding incomes over $73,000. Due to the high residential density, large retail development opportunities are scarce, making the intersection of Pearl Road and West 130th the core of the retail market for this nearby population.
Property Details
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 35,284 SF
Highlights
- GIANT EAGLE CORPORATELY GUARANTEED GROUND LEASE - WETGO CAR WASH
- High Traffic Location
- Dense Local Population
- Strong Guarantor
- New Building Prototype
Nearby Properties
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