20501 Euclid Ave Euclid, OH 44117-1520

Property Details for 20501 Euclid Ave

Year built

1987

Construction

TYPE NOT SPECIFIED

Lot size

0.51 lot acres

Property size

1,080 SF

Zone code

U4

Property type

Warehouses

APN

646-29-010

APU

64629010

Description

This Euclid, Ohio retail investment offers a compelling 7.00% cap rate with a strong tenant lineup including 7-Eleven, Jiffy Lube, Take 5 Oil Change, and Auto Glass Now. The 4,888 square foot, single-building property sits on a 0.51-acre lot at a high-traffic, signalized intersection of Euclid Ave and Dile Road, experiencing over 138,300 vehicles daily. Boasting 100% occupancy with two tenants under NNN leases, the property benefits from a corporate guarantee and built-in rent bumps of 10% every five years. The property features a recently renovated roof (2021) with a transferable warranty, minimizing future capital expenditures. Take 5 Oil Change and Auto Glass Now, both subsidiaries of Driven Brands (a major automotive services company), demonstrate strong commitment with Auto Glass Now recently renewing their lease early without concessions. The property's location benefits from strong retail synergy with nearby national brands like Walgreens, McDonald's, Dollar General, and Advance Auto Parts, and a dense population base (100,461 within 3 miles, 222,075 within 5 miles). Built in 1987, this stabilized investment presents a significant opportunity for passive income generation. The property's location in Cuyahoga County, Ohio, offers a robust market for automotive services. The asking price is $1,704,239, with a net operating income (NOI) of $119,296. Lube centers qualify for bonus depreciation. The property's APN is 646-29-010.

Location Insight

City

Euclid

County

Cuyahoga

State

Ohio

Longitude

-81.5371

Latitude

41.5678

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments