Occupied Retail Shopping
For Sale
Contact for pricing
8003-8023 Crile Rd, Painesville, OH 44077
Multi-tenant retail center with established occupants, a backup generator, and recent facility improvements.
Property Size57,257 SF
Lot Size9.48 Acres
Price / SF$118.76
Days on Market49
Property Features for 8003-8023 Crile Rd
General Information
Standard status
Active
Size
57,257 SF
Lot size
9.48 Acres
Property subtype
RETAIL
Occupancy
100%
Additional Details
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Global Real Estate Advisors
(440) 255-5552
Listed By:
Neil Sawicki, SIOR, Broker
(440) 339-8585
Source:
Moodyscre
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 9:25AM
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 Global Real Estate Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 60,053± SF retail facility contains 57,257± GLA across a 9.48±-acre site and is reported as 100% occupied. The tenant roster includes Discount Drug Mart, Concord Sports Plex, Birdie Kings, Little Mountain Dental, BellAmoré Salon & Spa, and Elevate Cryo. A backup generator serves the property, and facility updates were completed in 2021, 2022, and 2024.
The center is located at 8003-8023 Crile Rd in Painesville, Ohio, within Concord Township and the JEDD, or Joint Economic Development District. The property is not subject to JEDD restrictions, and the source information states that there is currently no income tax. Access is provided from SR 44, with Interstate 90 nearby. Surrounding users include University Hospital Tri-Point Medical Center, University Concord Health Center, Lake Metroparks, Concord Township Community Center, and multiple corporate and industrial operations.
The center is located at 8003-8023 Crile Rd in Painesville, Ohio, within Concord Township and the JEDD, or Joint Economic Development District. The property is not subject to JEDD restrictions, and the source information states that there is currently no income tax. Access is provided from SR 44, with Interstate 90 nearby. Surrounding users include University Hospital Tri-Point Medical Center, University Concord Health Center, Lake Metroparks, Concord Township Community Center, and multiple corporate and industrial operations.
Key Highlights
- 60,053± SF facility with 57,257± GLA on 9.48± acres
- 100% occupied retail center with six listed tenants
- Facility updates completed in 2021, 2022, and 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$536,837
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,736,740
$10.7M
Cap Rate 7%
$7,669,100
$7.7M
Cap Rate 9%
$5,964,856
$6.0M
Market Conditions
NOI Build-Up for 57,257 SF
Gross rent
$803.9K $14.04/SF
− Vacancy
−$37.0K −$0.65/SF
EGI
$766.9K $13.39/SF
− OpEx
−$230.1K −$4.02/SF
NOI
$536.8K $9.38/SF
Area
Lake County, OH
Vacancy
4.60%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,736,740
Cap Rate 7%
$7,669,100
Cap Rate 9%
$5,964,856
Alternative Uses
Best Use
Retail
$7.67M
$6.71M – $8.95M
NOI $536,837 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.22M
$11.57M – $15.43M
NOI $925,700 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44077, OH
58,253
Population
24,928
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
60.5 sq mi
ZIP Area
963
Density / Sq Mi
$80,692
Median Household Income
$45,315
Median Earnings
$972
Median Rent
$217,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center with established occupants, a backup generator, and recent facility improvements.
Where is this shopping center located?
The property is located at 8003-8023 Crile Rd Painesville, OH.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: 60,053± SF facility with 57,257± GLA on 9.48± acres; 100% occupied retail center with six listed tenants; Facility updates completed in 2021, 2022, and 2024
