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751 Richmond Rd
Richmond Heights, OH 44143
Walgreens | 6.42% CAP | Absolute NNN · Retail Property For Sale
Investment Highlights
- Corporate Lease with Walgreen Co.
- Focal Outlot to Belle Oaks - Major 60+ AC Retail, Housing, and Office Mixed Use Project Under Development
- Meijer Grocery Store Opening Adjacent Walgreens in 2025
- Recent Extension Provides 9 Years of Gauranteed Term
- 217 Upscale Apartment Units Under Development and 800 Total Under Completion
- NNN Lease - Passive Investment Ideal for 1031 Exchange
Executive Summary
13,216 SF Building Built in 2004 w/ Drive Thru
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,216 SF
Building Class
B
Year Built
2004
Price
$4,968,000
Price Per SF
$375.91
Cap Rate
7.75%
NOI
$385,020
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.59 AC
Zoning
B-2
Parking
50 Spaces (3.78 Spaces per 1,000 SF Leased)
Frontage
101’ on Richmond Rd
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 662-30-112 | Improvements Assessment | $1,047,100 |
| Land Assessment | $713,700 | Total Assessment | $1,760,800 |
Property Taxes
Parcel Number
662-30-112
Land Assessment
$713,700
Improvements Assessment
$1,047,100
Total Assessment
$1,760,800
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