Savers Retail
For Sale
Contact for pricing
21201 Center Ridge Road, Rocky River, OH 44116
Retail space backed by a double-net lease with extension options and contractual rent escalations.
Property SizeContact for details
Days on Market145
Property Features for 21201 Center Ridge Road
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
SAB Capital
(646) 809-8840
Listed By:
Preet Sabharwal · License #NY 10401215775
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 29 at 1:26PM
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 SAB Capital
Investment Insights
Based on property information with market context.
This 30,122-square-foot retail property is occupied by Savers under a 10-year double-net lease executed in 2015. More than seven years remain, with two five-year renewal options. The agreement includes a 10 percent rent increase in 2020 and at the start of each renewal period, while the landlord retains responsibility for roof and structural repairs and replacement. Lease obligations are guaranteed by TVI, Incorporated, a wholly owned subsidiary of Savers, Limited Liability Company, which operates more than 150 North American locations.
The property is located on Center Ridge Road, with reported exposure to more than 19,000 vehicles per day. The Westgate Transit Center occupies an adjoining pad site and provides nonstop, 24-hour bus service to and from Downtown Cleveland. The Greater Cleveland Transit Authority reports more than 44 million annual trips. Nearby retail destinations include Westgate and Rockport shopping centers, Westwood Town Center, and River Plaza, together representing more than 1 million square feet of retail space and including Home Depot, Target, Giant Eagle, and Lowe’s Home Improvement.
The property is located on Center Ridge Road, with reported exposure to more than 19,000 vehicles per day. The Westgate Transit Center occupies an adjoining pad site and provides nonstop, 24-hour bus service to and from Downtown Cleveland. The Greater Cleveland Transit Authority reports more than 44 million annual trips. Nearby retail destinations include Westgate and Rockport shopping centers, Westwood Town Center, and River Plaza, together representing more than 1 million square feet of retail space and including Home Depot, Target, Giant Eagle, and Lowe’s Home Improvement.
Key Highlights
- 30,122‑square‑foot retail property occupied by Savers
- More than seven years remaining on a 10‑year double‑net lease signed in 2015
- Two five‑year extension options with a 10 percent rent escalation in 2020 and each option period
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 44116, OH
21,821
Population
10,484
Households
2.1
Avg Household Size
45
Median Age
64%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
4,453
Density / Sq Mi
$93,532
Median Household Income
$60,738
Median Earnings
$1,146
Median Rent
$327,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space backed by a double-net lease with extension options and contractual rent escalations.
Where is this retail space located?
The property is located at 21201 Center Ridge Road Rocky River, OH.
What are key features of this property?
This property features: 30,122‑square‑foot retail property occupied by Savers; More than seven years remaining on a 10‑year double‑net lease signed in 2015; Two five‑year extension options with a 10 percent rent escalation in 2020 and each option period
