Drug Store With Long-Term
8000 Euclid Ave Cleveland, OH 44103
For Sale
Contact for pricing
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 Market720
Property Features for 8000 Euclid Ave
General Information
Standard status
Active
Size
11,878 SF
Property subtype
RETAIL
Listing Agency:
Trinity Real Estate Investment Services - Corporate
(512) 971-3695
Listed By:
Justin Williams · License #767727
Source:
Moodyscre
Added: Aug 9, 2024
Changed: Jul 28
Last Checked: Jul 28 at 11:09AM
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 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 | $213.8k | $18.00 |
| − Vacancy | −$15.0k | −$1.26 |
| EGI | $198.8k | $16.74 |
| − OpEx | −$49.7k | −$4.19 |
| NOI | $149.1k | $12.56 |
11,878 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 25.00%
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
Location Intelligence
Current Use
Similar Off Market Nearby
- 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
- Carla Wilder — 2070 E 90th St, Cleveland, OH 441062971
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
