21330 Ctr Rdg Rd Rocky River, OH 44116-3206
Property profile & analytics
21330 Ctr Rdg Rd, Rocky River, OH 44116-3206
- Drive through restaurants
- 3,418 SF
- 0.80 lot acres
Property ID
US66-2579656
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Drive through restaurants
Property Details for 21330 Ctr Rdg Rd
- Year built
- 2020
- Lot size
- 0.80 lot acres
- Zone code
- GB
- Property type
- Drive through restaurants
- APN
- 303-22-013
- APU
- 30322013
Description
This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN leased Raising Cane's restaurant in Rocky River, Ohio. The property boasts a 3,418 square foot building on a 1.23-acre lot, constructed in 2020. The current lease, with a remaining term of 10.3 years (expiring February 28, 2035), commenced February 11, 2020, and includes five, five-year renewal options with a 10% rent increase every five years. The property enjoys a 5.25% cap rate, generating a net operating income (NOI) of $269,496. The location is highly desirable, situated on Center Ridge Road, a corridor with 20,000 cars per day, and benefits from strong demographics: 14,000 people within one mile with an average household income of $102,000, and 92,000 people within three miles with an average household income of $97,000. The property's proximity to major retailers like Target, Home Depot, Lowe's, Kohl's, and ALDI further enhances its appeal. The tenant, Raising Cane's, is a rapidly expanding quick-service restaurant (QSR) brand, adding over 120 new units in the past two years. This property offers a secure, passive income stream with significant upside potential due to the lease terms and the tenant's robust growth trajectory. The asking price is $5,133,000. This is a corporate-owned unit, purchased in 2021, demonstrating the brand's commitment to the location's success. The property's excellent visibility and two points of ingress/egress add to its overall value. The property is located at 21330 Center Ridge Rd, Rocky River, OH 44116.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Rocky River
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.8565
- Latitude
- 41.4611
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$38,981
$271,040
$128,910
$399,950
-
$774,400
$368,300
$1,142,700
