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
- Signed LOI from National Tenant for Possible Repositioning of the Center to Dramatically Increase Future NOI - Contact Broker for More Details
- Anchored by Michaels, the Largest Arts and Crafts Retail Chain in North America and KeyBank (S&P “BBB+”/Moody’s “Baa1”) Outparcel Ground Lease
- Assumable Debt for Qualified Buyer Available - 4.50% Rate and Expected 12.45% Year-1 Total Return - Contact Broker for More Details
- 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
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Michael's Anchored | Value-Add Play
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Bank, Health Club, Department Store
TOTAL BUILDING SIZE
53851
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
350
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
213-24-027
