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The Shoppes at Vista Way 9501-9591 Vista Way 41,520 SF 88% Leased Retail Building Garfield Heights, OH 44125 $8,610,000 ($207.37/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
Building Size
41,520 SF
Building Class
B
Year Built
2006
Price
$8,610,000
Price Per SF
$207.37
Cap Rate
8%
NOI
$688,910
Percent Leased
88%
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
- Air Conditioning
- Smoke Detector
- Backup Power / Generators
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
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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Videos
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Photos
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Street
Map
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The Shoppes at Vista Way | 9501-9591 Vista Way
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