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    9300 Miles Ave Cleveland, OH 44105

    Sponsored
    For Sale
    $850,000

    Cleveland, OH - High-Traffic Corner Lot

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 8,000 square foot freestanding retail building, formerly a Family Dollar, is situated on a 0.67-acre corner lot in Cleveland, Ohio, boasting excellent visibility and accessibility at a signaled intersection. The property features 50 free surface parking spaces and benefits from a high daily vehicle count of approximately 18,000. Currently leased under a NNN lease with a remaining term of four years, expiring December 30, 2028, with three, five-year renewal options at a 10% increase each term. The lease includes a landlord responsibility for roof, structure, and capital expenses. The asking price is $850,000, representing a price per square foot of $106.25 and a 6.34% cap rate. The property's location offers convenient ingress/egress and is a 15-minute drive to Downtown Cleveland and 2.3 miles from the I-480 interchange. This presents a compelling investment opportunity in a strong retail market, anchored by a nationally recognized brand with a proven track record. The property's location and lease terms provide a stable income stream with significant upside potential through future lease renewals. The property's APN is 136-20-001, 136-20-002, 136-20-005. The address is 9300 Miles Ave, Cleveland, OH 44105.

    Property Features for 9300 Miles Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,000 SF
    Lot Size
    29,185 SF

    HighLights

    • Family Dollar freestanding retail building offering a long‑term lease.
    • Strong, growing tenant in a value‑conscious market.
    • Lease expires 12/31/2028, with three 5‑year options at 10% rent increases each.
    • Excellent visibility and access at a signalized intersection.
    • Ample parking with 50 surface spaces.
    • Landlord responsible for building structure, roof, and capital expenditures.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6207007
    Latitude
    41.4448884

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    FAQs

    What type of property is this?
    Individual retail property - Cleveland, OH - High-Traffic Corner Lot
    Where is this individual retail property located?
    The property is located at 9300 Miles Ave Cleveland, OH.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Family Dollar freestanding retail building offering a long-term lease.; Strong, growing tenant in a value-conscious market.; Lease expires 12/31/2028, with three 5-year options at 10% rent increases each.
    Request Owner's contact information
    9300 Miles Ave Cleveland, OH 44105
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    Cleveland, OH 44105
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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
    9300 Miles Ave Cleveland, OH 44105
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