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Shoppes at Willoughby Hills 27401 Chardon Rd 8,908 SF Retail Building Willoughby Hills, OH 44092 $745,000 ($83.63/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Corporate Tenant – NTB has operated at this location for 36 years
- Hands-Off Investment – No landlord responsibilities
- High-Traffic Retail Corridor – 12,600 VPD on Chardon Rd, 20,600 VPD on Bishop Rd
- Guaranteed Through March 2030 – 10-year lease extension signed in 2020
- Corporate Guarantee – NTW LLC, subsidiary of TBC Corporation (Michelin/Sumitomo JV)
- Dense Surrounding Demographics – 192,000+ residents within 5 miles
EXECUTIVE SUMMARY
Fortino Real Estate Group is pleased to present the fee-simple sale of a single-tenant National Tire & Battery (NTB) property located in Willoughby Hills, Ohio, within the Cleveland MSA. The tenant has operated at this location since 1989, demonstrating over three decades of operational stability. In 2020, NTB executed a 10-year lease extension, ensuring a guaranteed term through March 2030 with two additional five-year renewal options.
The property is leased to NTW LLC, a wholly owned subsidiary of TBC Corporation, one of the largest automotive service and tire distribution companies in North America and parent to brands such as Tire Kingdom, Midas, and Big O Tires. This is a true triple-net (NNN) lease, with the tenant responsible for all maintenance, repairs, insurance, and real estate taxes — offering investors a hands-off, passive investment opportunity with a corporate-backed tenant.
Strategically positioned along Chardon Road (12,600 VPD) near Interstate 90, the site benefits from excellent visibility and access. It is shadow-anchored by Marc’s Grocery Store (opened 2022) and surrounded by national retailers including Aldi, CVS, McDonald’s, Dunkin’, and Dollar Tree. The surrounding trade area includes over 1,300 multifamily units and University Hospitals Richmond Hospital, driving consistent consumer and daytime traffic.
The property is leased to NTW LLC, a wholly owned subsidiary of TBC Corporation, one of the largest automotive service and tire distribution companies in North America and parent to brands such as Tire Kingdom, Midas, and Big O Tires. This is a true triple-net (NNN) lease, with the tenant responsible for all maintenance, repairs, insurance, and real estate taxes — offering investors a hands-off, passive investment opportunity with a corporate-backed tenant.
Strategically positioned along Chardon Road (12,600 VPD) near Interstate 90, the site benefits from excellent visibility and access. It is shadow-anchored by Marc’s Grocery Store (opened 2022) and surrounded by national retailers including Aldi, CVS, McDonald’s, Dunkin’, and Dollar Tree. The surrounding trade area includes over 1,300 multifamily units and University Hospitals Richmond Hospital, driving consistent consumer and daytime traffic.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
8,908 SF
Building Class
B
Year Built
1989
Price
$745,000
Price Per SF
$83.63
Cap Rate
6.75%
NOI
$50,304
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.81 AC
Zoning
B
Parking
32 Spaces (3.59 Spaces per 1,000 SF Leased)
Frontage
128’ on Chardon Rd
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $120,470 | |
| Land Assessment | $48,510 | Total Assessment | $168,980 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$48,510
Improvements Assessment
$120,470
Total Assessment
$168,980
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Shoppes at Willoughby Hills | 27401 Chardon Rd
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