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Walgreens 20485 Euclid Ave 14,408 SF Retail Building Euclid, OH 44117 $3,724,800 ($258.52/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
$3,724,800
Price Per SF
$258.52
Cap Rate
6.25%
NOI
$232,800
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
Property Taxes
| Parcel Number | 646-28-071 | Improvements Assessment | $395,150 |
| Land Assessment | $286,860 | Total Assessment | $682,010 |
Property Taxes
Parcel Number
646-28-071
Land Assessment
$286,860
Improvements Assessment
$395,150
Total Assessment
$682,010
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Walgreens | 20485 Euclid Ave
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