Former Dollar General Retail
For Sale
Contact for pricing
16015 Lakeshore Blvd, Cleveland, OH
Retail space with high traffic and built-in customer base.
Property Size7,636 SF
Lot Size0.73 Acres
Price / SF$117.73
Days on Market443
Property Features for 16015 Lakeshore Blvd
General Information
Standard status
Active
Size
7,636 SF
Lot size
0.73 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Cleveland
(216) 225-7561
Listed By:
Chris Seelig, CCIM · License #2020004495
(216) 272-7005
Source:
Moodyscre
Added: May 15, 2025
Changed: Jul 6
Last Checked: Jul 31 at 4:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Cleveland
Investment Insights
Based on property information with market context.
This 7,636-square-foot retail space, formerly a Dollar General, offers a flexible layout suitable for various businesses, including quick-service restaurants, convenience stores, medical facilities, or other daily-needs users. The property is located on high-traffic Lakeshore Blvd, providing immediate access to I-90, public transit, and ride-share routes. The surrounding area includes multifamily housing and senior living facilities, contributing to a consistent, built-in customer base. Over 176,000 residents live within a 5-mile radius. Nearby co-tenants and traffic drivers include KFC, AutoZone, Family Dollar, Boost Mobile, Georgio’s Pizza, the Collinwood Rec Center, and the Cleveland Public Library.
Key Highlights
- High‑traffic location on Lakeshore Blvd with immediate access to I‑90, public transit, and ride‑share routes.
- Over 176,000 residents within a 5‑mile radius, surrounded by multifamily housing and senior living.
- Flexible space suitable for QSR, convenience, medical, or other daily‑needs users.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.5k | $15.00 |
| − Vacancy | −$9.7k | −$1.28 |
| EGI | $104.8k | $13.73 |
| − OpEx | −$31.4k | −$4.12 |
| NOI | $73.4k | $9.61 |
7,636 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.05M
$917.0K – $1.22M
NOI $73,363 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,440 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with high traffic and built-in customer base.
Where is this retail space located?
The property is located at 16015 Lakeshore Blvd Cleveland, OH.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: High‑traffic location on Lakeshore Blvd with immediate access to I‑90, public transit, and ride‑share routes.; Over 176,000 residents within a 5‑mile radius, surrounded by multifamily housing and senior living.; Flexible space suitable for QSR, convenience, medical, or other daily‑needs users.
