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Walgreens | 6.42% CAP | Absolute NNN 751 Richmond Rd

13,216 SF Retail Building Richmond Heights, OH 44143 $7,167,035 CAD ($542.30 CAD/SF) 7.75% Cap Rate

Drug Stores Ohio Richmond Heights 751 Richmond Rd, Richmond Heights, OH 44143

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

ATTACHMENTS

Walgreens - NNN - Recent 10 Year Extension

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,216 SF
Building Class
B
Year Built
2004
Price
$7,167,035 CAD
Price Per SF
$542.30 CAD
Cap Rate
7.75%
NOI
$555,445 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.59 AC
Parking
50 Spaces (3.78 Spaces per 1,000 SF Leased)
Frontage
101’ on Richmond Rd

AMENITIES

  • Bus Line
  • Pylon Sign
  • Signage
  • Drive Thru
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NEARBY MAJOR RETAILERS

Flagstar
Planet Fitness
U.S. Bank
Huntington National Bank
Dollar Bank

PROPERTY TAXES

Parcel Number 662-30-112 Improvements Assessment $671,669 CAD
Land Assessment $354,466 CAD Total Assessment $1,026,136 CAD

PROPERTY TAXES

Parcel Number
662-30-112
Land Assessment
$354,466 CAD
Improvements Assessment
$671,669 CAD
Total Assessment
$1,026,136 CAD
(216) 381-8200

CONTACT

  • Listing ID: 32693731

  • Date on Market: 2024-01-17

  • Last Updated:

  • Address: 751 Richmond Rd, Richmond Heights, OH 44143

The Retail Property at 751 Richmond Rd, Richmond Heights, OH 44143 is currently available for sale. Contact Goodman Real Estate Services Group for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

NEARBY LISTINGS

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Walgreens | 6.42% CAP | Absolute NNN | 751 Richmond Rd
(216) 381-8200 x

Walgreens | 6.42% CAP | Absolute NNN | 751 Richmond Rd

Kyle Hartung

(216) 381-8200

(216) 381-8200

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