20501 Euclid Ave, Euclid, OH 44117
5,986 SF | 100% Leased | Retail Building | Euclid, OH 44117 | $1,704,239 ($285/SF) | 7% Cap Rate
For Sale
Active
Asking Price $1,704,239
- Property Type
-
Retail
- Square Feet
- 5,986 SF
- Price / Square Foot
- $285
Listing Contacts
- Property Info
Property Overview
Passive Lease Structure – NNN recovery structure across both leases. Tenants pay for taxes, insurance, and common area maintenance of the building. High Yielding Investment– This investment is offered at an appealing 7.00% CAP rate and features 10% rental increases every 5 years on both leases (both national brands.) New Roof – The roof was replaced in 2021, thus reducing future capital expenditures for the next LL. Roof warranty is transferable. Proven Operator (DRIVEN BRANDS) – Take 5 Oil and Auto Glass Now are both subsidiaries of Driven Brands, the largest automotive services company in North America with approximately $5.3 billion in systemwide sales and 4,700 units. Take-5 has operated this site since 2018. Bonus Depreciation: Lube centers qualify for bonus depreciation which allows you to write off a portion of the purchase in year one – consult a CPA to further discuss. LOCATION HIGHLIGHTS ; High Traffic on Signalized Hard Corner: The strip-center sits at the corner of Euclid Ave and Dile Road, which collectively sees over ±38,300 vehicles per day. Strong Retail Synergy: Prominent national retailers, including Walgreens, McDonald’s, Dollar General, and Advance Auto Parts, are all conveniently located in the nearby vicinity. Dense Population: The property is surrounded by a population of 100,461 people within a 3-mile radius and 222,075 people within a 5-mile radius. Additionally, there are 47,062 rooftops within a 3-mile radius and 102,027 rooftops within a 5-mile radius. Highly Visible with Great Signage: Both tenants feature large, prominent pylon signs designed to capture the attention of the heavy traffic flow in the area.
Property Details
- Class
- B
- Year Built
- 1987
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 22,216 SF
Highlights
- Passive Lease Structure – NNN recovery structure across both leases. Tenants pay for taxes, insurance, and common area maintenance of the building.
- New Roof – The roof was replaced in 2021, thus reducing future capital expenditures for the next LL. Roof warranty is transferable.
- High Traffic on Signalized Hard Corner: The strip-center sits at the corner of Euclid Ave and Dile Road, which collectively sees over ±38,300 VPD.
- Highly Visible with Great Signage: Both tenants feature large, prominent pylon signs designed to capture the attention of the heavy traffic flow.
- Bonus Depreciation: Lube centers qualify for bonus depreciation which allows you to write off a portion of the purchase in year one.
- Strong Retail Synergy: Prominent national retailers, including Walgreens, McDonald’s, Dollar General, and Advance Auto Parts, are in the area.
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