Retail Building in Cleveland
For Sale
Contact for pricing
3171 W Blvd, Cleveland, OH
11,625 SF retail building in a vibrant Cleveland location.
Property Size11,625 SF
Lot Size1.79 Acres
Price / SF$381.14
Days on Market402
Property Features for 3171 W Blvd
General Information
Standard status
Active
Size
11,625 SF
Lot size
1.79 Acres
Property subtype
RETAIL
Listing Agency:
Exclusive Realty
(248) 219-8080
Listed By:
Steve Sagmani · License #6502426558
(248) 833-6601
Source:
Moodyscre
Added: Sep 9, 2025
Changed: Oct 8
Last Checked: Oct 15 at 2:49AM
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 Exclusive Realty
Investment Insights
Based on property information with market context.
This 11,625 square foot retail building, constructed in 2000, features a modern design and versatile space. It is located in the Cleveland area, benefiting from high foot traffic and proximity to Northwest Freeway and I-90. The property is positioned near key local and national retailers, driving consistent consumer demand. The location benefits from an average household income of $65,000+ within a 3-mile radius and an average population of 162,000+ residents within the same radius. Lorain Avenue sees over 13,000 vehicles per day. The property is zoned LR-C1 and operates under a Triple Net (NNN) lease structure with zero Landlord responsibilities. According to Placer.ai, this location is ranked in the 83rd percentile of CVS stores Statewide for store visits.
Key Highlights
- Ranked in the 83rd percentile of CVS stores Statewide for store visits according to Placer.ai
- Prime location in the vibrant Cleveland area, attracting high foot traffic
- Triple Net (NNN) lease structure with zero Landlord responsibilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,952
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,919,040
$2.9M
Cap Rate 7%
$2,085,029
$2.1M
Cap Rate 9%
$1,621,689
$1.6M
Market Conditions
NOI Build-Up for 11,625 SF
Gross rent
$209.3K $18.00/SF
− Vacancy
−$14.6K −$1.26/SF
EGI
$194.6K $16.74/SF
− OpEx
−$48.7K −$4.19/SF
NOI
$146.0K $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 Rate 5%
$2,919,040
Cap Rate 7%
$2,085,029
Cap Rate 9%
$1,621,689
Alternative Uses
Best Use
Specialty Retail
$2.09M
$1.82M – $2.43M
NOI $145,952 @ 7.0% cap · market cap 3.29%
Second Best
Retail
$1.60M
$1.40M – $1.86M
NOI $111,687 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,581 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - 11,625 SF retail building in a vibrant Cleveland location.
Where is this drug store located?
The property is located at 3171 W Blvd Cleveland, OH.
What is the asking price?
The asking price for this property is $4,430,769.
What are key features of this property?
This property features: Ranked in the 83rd percentile of CVS stores Statewide for store visits according to Placer.ai; Prime location in the vibrant Cleveland area, attracting high foot traffic; Triple Net (NNN) lease structure with zero Landlord responsibilities
