Retail Building in Cleveland
3171 W Blvd Cleveland, OH
For Sale
Contact for pricing
11,625 SF retail building in a vibrant Cleveland location.
Property Size11,625 SF
Lot Size1.79 Acres
Price / SF$381.14
Days on Market322
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) 833-6601
Listed By:
Steve Sagmani · License #6502426558
(248) 833-6601
Source:
Moodyscre
Added: Sep 9, 2025
Changed: Jul 10
Last Checked: Jul 21 at 6:24AM
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 For Specialty 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 | $209.3k | $18.00 |
| − Vacancy | −$14.6k | −$1.26 |
| EGI | $194.6k | $16.74 |
| − OpEx | −$48.7k | −$4.19 |
| NOI | $146.0k | $12.56 |
11,625 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Medical Mechanical — 2742 Grand Ave, Cleveland, OH 44104
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
