9300 Miles AveCleveland, OH 44105

Property Details for 9300 Miles Ave

Lot size

0.67 AC

Property size (Sq ft)

8,000 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This 8,000 square foot freestanding retail building, formerly a Family Dollar, is situated on a 0.67-acre corner lot in Cleveland, Ohio, boasting excellent visibility and accessibility at a signaled intersection. The property features 50 free surface parking spaces and benefits from a high daily vehicle count of approximately 18,000. Currently leased under a NNN lease with a remaining term of four years, expiring December 30, 2028, with three, five-year renewal options at a 10% increase each term. The lease includes a landlord responsibility for roof, structure, and capital expenses. The asking price is $850,000, representing a price per square foot of $106.25 and a 6.34% cap rate. The property's location offers convenient ingress/egress and is a 15-minute drive to Downtown Cleveland and 2.3 miles from the I-480 interchange. This presents a compelling investment opportunity in a strong retail market, anchored by a nationally recognized brand with a proven track record. The property's location and lease terms provide a stable income stream with significant upside potential through future lease renewals. The property's APN is 136-20-001, 136-20-002, 136-20-005. The address is 9300 Miles Ave, Cleveland, OH 44105.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4449

Longitude

-81.6207

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