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    8000 Euclid Ave Cleveland, OH 44103

    For Sale
    $2,000,000

    Cleveland, OH Retail Investment

    Property size:
    11,878 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents a CVS Pharmacy net leasehold interest in Cleveland, Ohio. The property, located at 8000 Euclid Ave, boasts 11,878 square feet on a 1.74-acre lot and is situated in a high-traffic area with strong demographics. Built in 2007, the single-tenant building enjoys 100% occupancy with a credit-rated corporate guarantor, CVS Pharmacy. The absolute NNN lease commenced September 4, 2008, and has a remaining term of approximately 9.2 years, expiring January 30, 2034. The lease includes four 5-year renewal options with a 5% rent increase each time. The current asking price is $2,000,000, representing a price per square foot of $168.38 and an attractive 11.57% cap rate based on a net operating income (NOI) of $231,391. The lease features 5% rent bumps every 10 years. This is a land sublease only. The property benefits from a daily traffic count exceeding 11,090 vehicles per day on Euclid Avenue, and serves a dense population exceeding 271,000 residents within a 5-mile radius. This offering presents a compelling opportunity for investors seeking a stable, long-term net lease investment with a strong tenant and attractive financial metrics.

    Property Features for 8000 Euclid Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,878 SF
    Lot Size
    75,794 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Units
    1

    HighLights

    • CVS Pharmacy with 9+ years remaining on lease.
    • Seller financing available; property priced based on loan defeasance at closing.
    • Long‑term tenant, lease commenced 2008.
    • Strong demographics: over 271,000 residents within a 5‑mile radius.
    • High‑traffic location on Euclid Ave (11,090+ VPD).
    • Investment‑grade tenant: CVS operates nearly 10,000 stores nationwide.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CVS Drug Store CVS Photo Passport Photo Processor Wabq Radio Broadcaster Redbox Movie Rental Kiosk UPS Access Point ... Shipping And Mailing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.632968
    Latitude
    41.5032518

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    FAQs

    What type of property is this?
    Individual retail property - Cleveland, OH Retail Investment
    Where is this individual retail property 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 lease.; Seller financing available; property priced based on loan defeasance at closing.; Long-term tenant, lease commenced 2008.
    Request Owner's contact information
    8000 Euclid Ave Cleveland, OH 44103
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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
    8000 Euclid Ave Cleveland, OH 44103
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