6950 W 130th St
Middleburg Heights, OH 44130
Former Freestanding Sears at Southland · Retail Property For Sale
Investment Highlights
- Value-add investment opportunity that includes $196K of in-place income from the new Carvana Auto Sales lease.
- Close proximity to I-71 and I-480 and great visibility and access from West 130th Street and Smith Road
- Surrounded by notable retailers such as BJ’s Wholesale Club, Giant Eagle, Marshalls, Party City, Petco, Marc’s, Gabe’s, Dollar Tree, and more
- Located less than 10 miles southwest of Downtown Cleveland and only 3 miles from the Cleveland International Airport.
- Highly dense area with 85k people in the immediately surrounding 3 mile area and over 700k people in 10 mile radius
- Potential mixed-use redevelopment opportunity
Property Facts
Amenities
- Signage
About 6950 W 130TH ST , MIDDLEBURG HEIGHTS, OH 44130
Colliers’ Retail Capital Markets Team is pleased to present the opportunity to acquire the former Sears department store building located at the signalized intersection of W. 130th Street and Smith Road in Middleburg Heights, Ohio. Middleburg Heights is a suburb of Cleveland and is considered one of the best places to live in Ohio. Middleburg Heights is a densely populated and established residential neighborhood with over 85,000 residents living within a three mile radius of the Subject Property. The 315,818 square foot, two-story former Sears building and the 35,792 SF former auto center were built in 1964. The Auto Center is leased to Carvana Auto Sales providing $195,000 in annual income, reducing ongoing carrying costs. The property is adjacent to Southland Shopping Center, a high traffic retail center with 60 stores. Surrounding retailers in the immediate vicinity include BJ’s Wholesale Club, Giant Eagle, Marc’s, JoAnn Fabrics, Petco, Gabe’s, and Marshalls. The offering is an excellent opportunity to create significant value and cash flow by acquiring a vacant former Sears building in a prominent retail location for well below replacement cost with upside potential.
Property Taxes
| Parcel Number | 372-31-006 | Improvements Assessment | $117,845 |
| Land Assessment | $512,155 | Total Assessment | $630,000 |
Property Taxes
