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Papa Johns 5358 Turney Rd 1,274 SF Retail Building Garfield Heights, OH 44125 $785,000 ($616.17/SF) 5.50% Cap Rate
Investment Highlights
- 11+ Years Remaining | Options To Extend | 8% Rental Increases | Top-Performing Store
- Dense Retail Corridor | Proximity To Community Anchors
- Strong Demographics In The 5-Mile Trade Area | Cleveland MSA
- Absolute NNN | Zero Landlord Responsibilities
- Frontage On Turney Rd (20,200 VPD) | Just Off I-480 (149,800 VPD)
Executive Summary
• Over 11 years of remaining term with four (4) 5-year renewal options
• 8% rental increases every five years throughout the primary term and option periods support NOI growth and provide a built-in hedge against inflation
• This location is a top-performing Papa Johns, ranking in the 93rd percentile nationally and 98th percentile in Ohio among comparable stores (Placer.ai)
• 8% rental increases every five years throughout the primary term and option periods support NOI growth and provide a built-in hedge against inflation
• This location is a top-performing Papa Johns, ranking in the 93rd percentile nationally and 98th percentile in Ohio among comparable stores (Placer.ai)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,274 SF
Building Class
C
Year Built
1948
Price
$785,000
Price Per SF
$616.17
Cap Rate
5.50%
NOI
$43,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
TRCMU - Turney Road Core Mixed-Use
Parking
4 Spaces (3.14 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 542-30-009 | Improvements Assessment | $70,350 |
| Land Assessment | $8,050 | Total Assessment | $78,400 |
Property Taxes
Parcel Number
542-30-009
Land Assessment
$8,050
Improvements Assessment
$70,350
Total Assessment
$78,400
Contacts
-
William Donlon -
Michael Grunberg -
Nick Santagata -
Sarah Shanks -
SRS National Net Lease
1 of 6
Videos
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Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Papa Johns | 5358 Turney Rd
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