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38000 Euclid Ave 29,788 SF 100% Leased Retail Building Willoughby, OH 44094 $3,366,600 ($113.02/SF) 7.50% Cap Rate
Investment Highlights
- Anchored by Dollar Tree with investment-grade credit rating.
- Recent renovations and ample on-site parking for customer convenience.
- Strong tenant mix with complementary uses and long-term leases.
Executive Summary
This offering presents a prime opportunity to acquire a stabilized, multi-tenant retail center strategically located along Euclid Avenue in Willoughby, Ohio—just 17 miles from downtown Cleveland and less than one mile from I-90. The property spans approximately 2.52 acres and features two buildings totaling ±29,788 square feet, complemented by 115 on-site parking spaces. Anchored by Dollar Tree, an investment-grade tenant (BBB S&P rating), the center also includes two long-standing local businesses: Savelli Dance & Martial Arts and Relson Gracie Jiu-Jitsu, creating a diverse and resilient tenant mix.
The asset delivers multiple income streams under NNN leases, minimizing landlord responsibilities to roof, structure, and common areas. Dollar Tree’s lease runs through December 2033 with four five-year renewal options, while the other tenants maintain strong occupancy commitments. The property generates a total NOI of $252,500, priced at $3,366,600 with a 7.50% cap rate, offering investors a solid return backed by creditworthy tenancy and predictable cash flow.
The asset delivers multiple income streams under NNN leases, minimizing landlord responsibilities to roof, structure, and common areas. Dollar Tree’s lease runs through December 2033 with four five-year renewal options, while the other tenants maintain strong occupancy commitments. The property generates a total NOI of $252,500, priced at $3,366,600 with a 7.50% cap rate, offering investors a solid return backed by creditworthy tenancy and predictable cash flow.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
29,788 SF
Building Class
C
Year Built
1952
Price
$3,366,600
Price Per SF
$113.02
Cap Rate
7.50%
NOI
$252,495
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
9’
Building FAR
0.27
Lot Size
2.52 AC
Zoning
G-B
Parking
125 Spaces (4.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Atrium
- Bus Line
- Conferencing Facility
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Skylights
- Drive Thru
- Storage Space
- Monument Signage
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 14
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38000 Euclid Ave
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