16122 Lakeshore Blvd - Freestanding FOR SALE


Cleveland, OH 44110- Waterloo Arts District
$3,160,000 USD
646-838-3000
16122 Lakeshore Blvd, Cleveland, OH for Sale
$3,160,000 USD
Freestanding - FOR SALE
1/4
null | 8.03% Cap Rate

16122 Lakeshore Blvd
Cleveland, OH 44110
Waterloo Arts District


HIGHLIGHTS

  • Established National Anchors: AutoZone (investment-grade credit, S&P BBB) and Family Dollar have long-term commitment to the site.
  • Strong Credit Tenant Mix: 60%+ of the GLA is leased to national, credit-rated tenants, including AutoZone and Family Dollar.
  • Re-Tenanting Opportunity: Family Dollar will go dark in January 2026 but will continue paying full rent and reimbursements through June 2029.
  • Lease-Up Potential: Immediate opportunity to lease up 1,600 SF of vacant retail space.
  • Rent Growth: Most tenant leases include scheduled rent increases within their renewal options, supporting income growth over time.
  • Major Public Redevelopment Nearby: Property is adjacent to the Collinwood Redevelopment Site, recently acquired by the City of Cleveland for rezoning.

OVERVIEW

Established National Anchors: AutoZone (investment-grade credit, S&P BBB) and Family Dollar have operated at the center since 2006 and 2004, respectively. AutoZone recently extended its lease through 2031 with annual rent increases, underscoring its long-term commitment to the site Strong Credit Tenant Mix: 60%+ of the GLA is leased to national, credit-rated tenants, including AutoZone and Family Dollar Re-Tenanting Opportunity: Family Dollar will go dark in January 2026 but will continue paying full rent and reimbursements through June 2029. This gives a buyer the rare opportunity to replace the largest space in the center with a market-rate, fully NNN lease while preserving near-term income Lease-Up Potential: Immediate opportunity to lease up 1,600 SF of vacant retail space Rent Growth: Most tenant leases include scheduled rent increases within their renewal options, supporting income growth over time Major Public Redevelopment Nearby: The property sits adjacent to the Collinwood Redevelopment Site, recently acquired by the City of Cleveland for rezoning and future development—positioning the plaza to benefit from surrounding redevelopment momentum Excellent Physical Condition: Roof and parking lot are well maintained, with the parking lot recently sealed and striped

FOR SALE DETAILS

PRICE

$3,160,000 USD

PRICE/SF

$147 USD /SF

CAP RATE

8.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

99

LAND DETAILS

LAND ACRES

3.09 AC

LAND SF

134,818 SF

ZONING

SC

APN/PARCEL ID

113-17-002

ASK ABOUT THIS PROPERTY

Michael CleemanCleeman Realty Group LLCMore Info
646-838-3000

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Michael CleemanCleeman Realty Group LLCMore Info
646-838-3000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.