Two-Building Asset in Warrensville
22019 Emery Rd Warrensville Heights, OH 44128
22019 Emery Rd, Warrensville Heights, OH, 44128
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For Sale
Contact for pricing
Two-building asset leased to Georgio’s Pizza and Starr Automotive.
Property Size6,350 SF
Price / SF$109.45
Days on Market1104
Property Features for 22019 Emery Rd
General Information
- Standard status
- Active
- Size
- 6,350 SF
- Property subtype
- Retail
Listing Agency
Goodman Real Estate Services Group LLC
(216) 381-8200
Listed by
Kyle Hartung · License #OH SAL.2003016343
Source
Crexi
Added: Jul 13, 2023 Updated: Jul 10 at 11:16 am Checked: Jul 19 at 9:52 am
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 Goodman Real Estate Services Group LLC
Investment Insights
Based on property information with market context.
This property features two freestanding buildings in Warrensville Heights, Ohio, leased to Georgio’s Oven Fresh Pizza and Starr Automotive. The asset offers an attractive cap rate of 8.5%. Georgio’s Pizza faces Emery Road, and Starr Automotive has been a tenant since 1995. Georgio’s is responsible for their own daily property maintenance, leaving minimal landscaping and snowplowing as the landlord responsibility for the Starr Automotive parcel. The property is located within blocks of the North Randall Amazon Fulfillment Center (900,000 SF), JACK Thistledown Racino, Cuyahoga Community College, and Heinen’s food manufacturing. The surrounding area includes national retailers such as ALDI, Wendy’s, KFC, Taco Bell, Popeyes, CVS, Burger King, Sherwin-Williams, Planet Fitness, and Save-A-Lot.
Key Highlights
- High 8.5% Cap Rate
- Two Freestanding Buildings with Existing Tenants
- Tenants Include Georgio’s Oven Fresh Pizza and Starr Automotive
Local Financial Insights For 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 | $95.3k | $15.00 |
| − Vacancy | −$8.6k | −$1.35 |
| EGI | $86.7k | $13.65 |
| − OpEx | −$26.0k | −$4.10 |
| NOI | $60.7k | $9.56 |
6,350 SF · lease $15.00/SF/yr · vacancy 9.00% · expense 30.00%
Alternative Uses
Best Use
Industrial
$4.19M
$3.67M – $4.89M
NOI $293,302 @ 7.0% cap · market cap 42.20%
Second Best
Specialty Retail
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 10.00%
Theoretical Best
Warehouse
$5.09M
$4.45M – $5.94M
NOI $356,153 @ 7.0% cap · market cap 51.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-building asset leased to Georgio’s Pizza and Starr Automotive.
Where is this conventional restaurant located?
The property is located at 22019 Emery Rd Warrensville Heights, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: High 8.5% Cap Rate; Two Freestanding Buildings with Existing Tenants; Tenants Include Georgio’s Oven Fresh Pizza and Starr Automotive
