1491-1502 Columbia Rd - Freestanding FOR SALE
Westlake, OH 44145 |
1491-1502 Columbia Rd
Westlake, OH 44145
HIGHLIGHTS
- 3-Tenant Credit Anchored Center in Desirable and Upscale Suburban Community of Westlake: Michael’s, KeyBank Outlot Ground Lease and Core CLE
- Highly Attractive 8.00% CAP Rate with 100% Occupancy, Long-Term Anchor (2027) and Upcoming Rental Increases
- Strong Demographics in High Barrier-to-Entry Affluent Market: Densely Populated Area with Over 70,700 People and Avg. HH Income Over $107k (3-Miles)
- Strong Suburban Market with 6.1% Vacancy Rate with Below Market Rental Rates
- Well-Maintained with Capital Improvements, Including New Roof in 2019 with 15-Yr. Transferable Warranty
- Ease of Access with Multiple Points of Ingress/Egress Along Columbia Road and Sits Directly In Front of Energizer Manufacturing (360 employees)
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Michael's Anchored|KeyBank GL|$111k Avg HHI
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Freestanding, Storefront, Department Store
TOTAL BUILDING SIZE
53851
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
350
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
213-24-027
