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Property profile & analytics
FOR LEASE
Strip malls

20601 Fairmount Blvd Shaker Heights, OH 44118

11,312 SF 1.06 ac lot Built 1942
Entity Owned Free & Clear
Property ID
US66-1647939
Property summary
AI-generated overview

This exceptional retail opportunity is located at the highly visible Fairmount Circle, the intersection of Fairmount Boulevard and Warrensville Center Road in Shaker Heights, Ohio. Boasting over 30,000 vehicles daily, this location offers unparalleled exposure. The property sits at the gateway to John Carroll University, a vibrant campus with 3,673 students, and is ideally positioned at the crossroads of densely populated University Heights, Cleveland Heights, and Shaker Heights, encompassing over 120,000 residents and 55,000 employees within a three-mile radius. This thriving neighborhood center already includes established businesses such as Huntington Bank, CVS Pharmacy, Dave's Cosmic Subs, Ben & Jerry's, Pizzazz on the Circle, Biggby Coffee, Boaz Fresh Lebanese, and D.O. Summers Dry Cleaners, creating a strong and diverse tenant mix. Two spaces are currently available. The first is a 4,242 square foot former cafe/market space featuring an existing hood and bar area, perfect for a restaurant or similar concept. The second space comprises 900 square feet, offering flexibility for a variety of retail uses. This is a unique chance to establish a business in a high-traffic, well-established center within a thriving community. The property's strategic location and existing infrastructure make it an attractive investment opportunity.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1942
Construction TYPE NOT SPECIFIED
Total area 11,312 SF
Lot 1.06 ac (46,112 SF)
Zoning code C2
APN 734-04-002
UPID US66-1647939
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Isalis (Bike/Boat/Book/etc) Store
  • Party City Party Supply Store (Bike/Boat/Book/etc) Store
  • Skunk Funk Big Box & Wholesale Store
  • Carl's Trading Co Hat Shop
  • Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.19M
Owner & transaction history
JCU PORTFOLIO
JCU PORTFOLIO
Zoning & alternative use
C2 · Shaker Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

District to maintain and promote a mix of commercial uses which provide goods and services for the City as a whole and for the convenience of residents of the surrounding neighborhood

Zone name General Commercial
General category COMMERCIAL
Zone area 8.28 ac
Source Realmo
Top alternative use upside
Restaurant $1.9M +66.5%
Office building $1.8M +59.7%
Medical building $1.2M +7.3%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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