CVS Retail Investment
For Sale
Contact for pricing
14025 Puritas Ave, Cleveland, OH 44135
10,125 SF CVS located in Cleveland, Ohio for sale.
Property Size10,125 SF
Price / SF$204.35
Days on Market698
Property Features for 14025 Puritas Ave
General Information
Standard status
Active
Size
10,125 SF
Class
A
Property subtype
Retail
Zoning
SC-D2
Building Details
Year Built
1997
Listing Agency:
Magna Carta Investment Group
Listed By:
Alex Wenzel · License #000167382-0
Source:
Crexi
Added: Sep 11, 2024
Changed: Aug 7
Last Checked: Aug 7 at 5:05AM
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 Magna Carta Investment Group
Investment Insights
Based on property information with market context.
Offered for sale is a 10,125-square-foot CVS property located at 14025 Puritas Avenue in Cleveland, OH. The property is positioned just off Puritas Avenue, which experiences traffic volume exceeding 12,509 vehicles per day.
Key Highlights
- 10,125 SF CVS property for sale.
- Located at 14025 Puritas Avenue in Cleveland, OH.
- Built in 1997.
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
$127,119
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
6.14%
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%
$2,542,380
$2.5M
Cap Rate 7%
$1,815,986
$1.8M
Cap Rate 9%
$1,412,433
$1.4M
Market Conditions
NOI Build-Up for 10,125 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
$182.3K $18.00/SF
− Vacancy
−$12.8K −$1.26/SF
EGI
$169.5K $16.74/SF
− OpEx
−$42.4K −$4.19/SF
NOI
$127.1K $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%
$2,542,380
Cap Rate 7%
$1,815,986
Cap Rate 9%
$1,412,433
Alternative Uses
Best Use
Specialty Retail
$1.82M
$1.59M – $2.12M
NOI $127,119 @ 7.0% cap · market cap 6.14%
Second Best
Retail
$1.39M
$1.22M – $1.62M
NOI $97,276 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,958 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44135, OH
26,684
Population
12,035
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
84%
High-School Grad
10.2 sq mi
ZIP Area
2,616
Density / Sq Mi
$48,930
Median Household Income
$36,444
Median Earnings
$935
Median Rent
$119,100
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CVS Pharmacy — 14025 Puritas Ave, Cleveland, OH 44135
- Kaushik Soni — 4281 W 130th St, Cleveland, OH 44135
- COVID-19 Drive-Thru Testing at Walgreens — 4281 W 130th St, Cleveland, OH 44135
- Jazz hair and more — 14043 Puritas Ave, Cleveland, OH 44135
- Cleveland LowCost Pharmacy — 14529 Puritas Ave, Cleveland, OH 44135
Frequently Asked Questions
What type of property is this?
Drug store - 10,125 SF CVS located in Cleveland, Ohio for sale.
Where is this drug store located?
The property is located at 14025 Puritas Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $2,069,000.
What are key features of this property?
This property features: 10,125 SF CVS property for sale.; Located at 14025 Puritas Avenue in Cleveland, OH.; Built in 1997.
