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    14025 Puritas Ave Cleveland, OH 44135

    Sponsored
    For Sale
    $2,142,000

    High-yield CVS Pharmacy, Cleveland, OH

    Property size:
    10,125 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 10,125-square-foot Class A CVS Pharmacy located at 14025 Puritas Avenue in Cleveland, Ohio. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $150,000. Built in 1997, this single-story building sits on a 0.717-acre lot and features a triple-net (NNN) lease with CVS Pharmacy, extending until January 31, 2033 (8.2 years remaining). The property benefits from a 100% occupancy rate and a strategic location in a high-traffic area, with Puritas Avenue seeing over 12,509 vehicles per day. The site is an outparcel to a Save A Lot anchored shopping center, further enhancing its visibility and accessibility. Significant nearby development includes a planned $14 million, 48-unit senior housing development slated to open in 2025. The surrounding area demonstrates strong demographics, with a population of 347,421 within a 5-mile radius and an average household income of $77,078. Nearby retailers include Pizza Hut, AutoZone, Burger King, McDonald's, and Walgreens. A brand-new roof was installed in the fall of 2023, minimizing future landlord expenses. The asking price is $2,142,000, translating to $211.56 per square foot. The seller is motivated, making this an attractive opportunity for investors seeking a secure, high-performing asset.

    Property Features for 14025 Puritas Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,125 SF
    Class
    A
    Lot Size
    31,233 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1

    HighLights

    • Motivated seller, seeking all offers.
    • New roof installed Fall 2023.
    • Outparcel in Save A Lot‑anchored shopping center.
    • Adjacent to planned $14M, 48‑unit senior housing development (opening 2025).
    • High traffic location, near Puritas Avenue (12,509 VPD).
    • Strong demographics: 347,421 residents within 5 miles, $77,078 average household income.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Pharmacy Pharmacy CVS Cosmetics Store Puritas Park Shopping ... Shopping Mall CVS Photo Passport Photo Processor UPS Access Point ... Shipping And Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7912007
    Latitude
    41.4331225

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    FAQs

    What type of property is this?
    Individual retail property - High-yield CVS Pharmacy, Cleveland, OH
    Where is this individual retail property located?
    The property is located at 14025 Puritas Ave Cleveland, OH.
    What is the asking price?
    The asking price for this property is $2,142,000.
    What are key features of this property?
    This property features: Motivated seller, seeking all offers.; New roof installed Fall 2023.; Outparcel in Save A Lot-anchored shopping center.
    Request Owner's contact information
    14025 Puritas Ave Cleveland, OH 44135
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14025 Puritas Ave Cleveland, OH 44135
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