9300 Miles Ave Cleveland, OH 44105
- Retail properties
- 8,000 SF
- 0.67 lot acres
Current Use by Public Records
- Retail properties
Property Details for 9300 Miles Ave
- Lot size
- 0.67 lot acres
- Property size
- 8,000 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6207
- Latitude
- 41.4449
