Drug Store With Long-Term
For Sale
Contact for pricing
8000 Euclid Ave, Cleveland, OH 44103
CVS drug store with 9+ years remaining and an operating tenant in place since 2008.
Property Size11,878 SF
Price / SF$168.38
Days on Market765
Property Features for 8000 Euclid Ave
General Information
Standard status
Active
Size
11,878 SF
Property subtype
RETAIL
Additional Details
Traffic Count
11,090 vehicles/day
Listing Agency:
Trinity Real Estate Investment Services - Corporate
(817) 304-8916
Listed By:
Justin Williams · License #767727
(512) 971-3695
Source:
Moodyscre
Added: Aug 9, 2024
Changed: Sep 10
Last Checked: Sep 12 at 11:25AM
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 Trinity Real Estate Investment Services - Corporate
Investment Insights
Based on property information with market context.
This property is a CVS Pharmacy drug store with 9+ years remaining. The asset has an operating tenant with rent commenced in 2008 and is currently described as a zero cash flow deal, with pricing based on the seller defeasing the existing loan at closing.
The property is located along Euclid Ave and is supported by a stated daily traffic count of 11,090+ vehicles per day.
The tenant is identified as operating close to 10,000 stores throughout the country. The offering notes extremely dense 5-mile demographics with over 271K residents.
The property is located along Euclid Ave and is supported by a stated daily traffic count of 11,090+ vehicles per day.
The tenant is identified as operating close to 10,000 stores throughout the country. The offering notes extremely dense 5-mile demographics with over 271K residents.
Key Highlights
- CVS pharmacy with 9+ years remaining on the lease
- Operating tenant in place since rent commenced in 2008
- Located along Euclid Ave with a daily traffic count of 11,090+ VPD
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$149,128
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,982,560
$3.0M
Cap Rate 7%
$2,130,400
$2.1M
Cap Rate 9%
$1,656,978
$1.7M
Market Conditions
NOI Build-Up for 11,878 SF
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.
Gross rent
$213.8K $18.00/SF
− Vacancy
−$15.0K −$1.26/SF
EGI
$198.8K $16.74/SF
− OpEx
−$49.7K −$4.19/SF
NOI
$149.1K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,982,560
Cap Rate 7%
$2,130,400
Cap Rate 9%
$1,656,978
Alternative Uses
Best Use
Specialty Retail
$2.13M
$1.86M – $2.49M
NOI $149,128 @ 7.0% cap · market cap 7.46%
Second Best
Retail
$1.63M
$1.43M – $1.90M
NOI $114,118 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,903 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
11,090 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44103, OH
14,469
Population
9,479
Households
1.5
Avg Household Size
43
Median Age
12%
College-Educated
78%
High-School Grad
4.1 sq mi
ZIP Area
3,529
Density / Sq Mi
$24,219
Median Household Income
$27,495
Median Earnings
$720
Median Rent
$57,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Cleveland, OH
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Similar Off Market Nearby
- Carla Wilder — 2070 E 90th St, Cleveland, OH 441062971
- Roxan Shokrollahi, RPH — 2070 E 90th St, Cleveland, OH 44106
- CVS Pharmacy — 8000 euclid ave, cleveland, oh 44103
- Catherine Wilson — 8000 Euclid Ave, Cleveland, OH 441034229
- Bhargavi Jokhakar — 8950 Euclid Ave, Cleveland, OH 44106
Frequently Asked Questions
What type of property is this?
Drug store - CVS drug store with 9+ years remaining and an operating tenant in place since 2008.
Where is this drug store located?
The property is located at 8000 Euclid Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: CVS pharmacy with 9+ years remaining on the lease; Operating tenant in place since rent commenced in 2008; Located along Euclid Ave with a daily traffic count of 11,090+ VPD
