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    751 Richmond Rd Richmond Heights, OH

    For Sale
    $4,968,000

    Corporate-guaranteed Walgreens lease in Richmond Heights, Ohio with extension.

    Lot size:
    1.61 Acres

    Property Features for 751 Richmond Rd

    General Information

    Lot size
    1.61 Acres

    Source: Goodman Real Estate Agent Kyle Hartung

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Walgreens Corporate Lease Investment Opportunity

    Offered for sale is the fee simple interest in a corporate lease with Walgreen Co. in Richmond Heights, Ohio. Walgreens has extended their lease to September 30, 2033, providing 10 years of guaranteed base term. The lease is triple net and corporately-guaranteed, with over 9 years of base term remaining plus options. Walgreens is located at the signalized primary corner directly in front of the Belle Oaks mixed use redevelopment, where the store has operated for 20 years. Belle Oaks is a 60+ acre mixed use redevelopment that is set to feature Meijer Grocery Store in 2025, plus additional phases of retail, multi-family, office and medical. This asset features a recently extended corporate lease, modern drive-thru format, high traffic and visibility location, and the backup of one of the largest new mixed use development in Northeast Ohio.
    Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    CVS Pharmacy, Walgreens Pharmacy, Monica Shelby, Shannon Conrad

    Location Insight

    • Map
    • Local Demand
    City
    Richmond Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5101208
    Latitude
    41.5528288

    Nearby Similar for Sale

    • Contact for pricing
      7,373 SF

      Retail Space with Signage Opportunities

      Retail space with new storefront, ample parking, and great signage.
      754 Richmond Rd, Richmond Heights, OH
      View Details
    • $4,968,000
      13,216 SF

      Walgreens Retail Investment Opportunity

      High-Yield Walgreens, Ohio
      751 Richmond Rd, Richmond Heights, OH 44143
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    FAQs

    What type of property is this?
    Drug store - Corporate-guaranteed Walgreens lease in Richmond Heights, Ohio with extension.
    Where is this drug store located?
    The property is located at 751 Richmond Rd Richmond Heights, OH.
    What is the asking price?
    The asking price for this property is $4,968,000.
    What are key features of this property?
    This property features: - Recently extended corporate lease with Walgreens, demonstrating commitment to the location until September 30, 2033.; - Located at the signalized primary corner directly in front of the new Belle Oaks mixed-use development.; - Belle Oaks is a 60+ acre mixed-use redevelopment featuring Meijer Grocery Store (2025), retail, multi-family, office and medical.
    (216) 381-8200
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    Richmond Heights, OH
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    751 Richmond Rd Richmond Heights, OH
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