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The Shoppes at Vista Way 9501-9591 Vista Way 41,520 SF 86% Leased 4-Star Retail Building Garfield Heights, OH 44125 $8,375,000 ($201.71/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Starbucks & Chipotle Anchored Multi-Building Strip Center | Starbucks End Cap Drive-Thru | Recent Extensions — Starbucks Exercised 5-Yr Option
- Immediate Opportunity to Increase Cash Flow and Add-Value via the Lease-Up of the Two Remaining 2nd Generation Vacancies (1,569 SF; 1,166 SF)
- Thousands of Construction Jobs and ~700 Permanent Jobs Located Directly Across I-480 Off Transportation Blvd on a 72 AC Site
- Comprised of Daily Needs Service & Food Based Operators | Recent 5-Yr Extensions with Penn Station & T-Mobile | 5-Yr Extension & Expansion
- Giant Eagle Shadow Anchored | Heavily Trafficked Location | Additional Daily Traffic Drivers with Surrounding Industrial, Office & Medical Employers
EXECUTIVE SUMMARY
Broker of Record
Matthew Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Matthew Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
41,520 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2006
Price
$8,375,000
Price Per SF
$201.71
Cap Rate
8%
NOI
$669,853
Percent Leased
86%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.45
Lot Size
2.12 AC
Zoning
U-11A
Parking
150 Spaces (3.61 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 542-16-002 | Improvements Assessment | $374,010 |
| Land Assessment | $258,930 | Total Assessment | $632,940 |
PROPERTY TAXES
Parcel Number
542-16-002
Land Assessment
$258,930
Improvements Assessment
$374,010
Total Assessment
$632,940
CONTACTS
-
Jonah Yulish -
Zack Bates -
Ben Snyder -
Charlie Wood -
Matthews Real Estate Investment Services
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The Shoppes at Vista Way | 9501-9591 Vista Way
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