2341 Crocker Rd | Westlake, OH 44145
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- LoopNet Team
2341 Crocker Rd
Westlake, OH 44145
Charles Schwab · Retail Property For Sale
Investment Highlights
- New Construction Charles Schwab 20-Year Abs NNN Ground Lease in Affluent Cleveland Suburb
- Directly Across from Crocker Park (#5 Ranked Retail Center in USA – Aug/2023); 4.5M SF Lifestyle Center with 10 Million Annual Visitors
- Substantial Long-Term Upside: $330K+ Spread Between $220K Ground-Rent & $554K Schwab Leasehold Rent
- 16.5 Years Remaining with 10% Rent Increases Every 5 Years (+104 bps to CAP Rate by End of Base Term)
- Dense, Highly-Affluent Area with Ideal Clientele for Schwab: $131-133K AHHI in 1-Mi and 3-Mi Radii
- Absolute NNN Lease Structure – Zero Landlord Responsibilities
Property Facts
Property Type
Retail
Property Subtype
Building Size
7,187 SF
Building Class
A
Year Built
2020
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.43 AC
Zoning
EOP
Parking
36 Spaces (5.01 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 211-29-078 | Improvements Assessment | $543,165 |
| Land Assessment | $174,825 | Total Assessment | $717,990 |
Property Taxes
Parcel Number
211-29-078
Land Assessment
$174,825
Improvements Assessment
$543,165
Total Assessment
$717,990
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