6370 York Rd - Storefront FOR SALE


Parma Heights, OH 44130
$3,400,000 USD
216-658-6120
6370 York Rd, Parma Heights, OH for Sale
$3,400,000 USD
Storefront - FOR SALE
1/16
null | 8.52% Cap Rate

6370 York Rd
Parma Heights, OH 44130


HIGHLIGHTS

  • 100% Leased NNN - Below Market Rents - Updated and Excellent Condition

OVERVIEW

CBRE, as exclusive advisor, is pleased to present York Road Plaza — a 100% occupied, 19,610-square-foot multi-tenant retail center on 2.452 acres in the heart of Parma Heights’ primary commercial corridor. The Property is offered at $3,400,000, or $173.38 per square foot, representing an 8.52% capitalization rate on 2027 projected net operating income. York Road Plaza sits at the center of one of Cuyahoga County’s densest and most established retail nodes. More than 103,000 residents and 46,000 households live within three miles. The Property fronts 198.5 feet on York Road, which carries 22,443 vehicles per day, and occupies the midpoint of the Pearl Road retail spine — bracketed by the two dominant retail concentrations in southwest Cuyahoga County. The Shoppes at Parma, a 734,199-square-foot power center whose Walmart Supercenter ranks as the highest-performing Walmart within a 50-mile radius, sits approximately one mile northeast. Southland Shopping Center in Middleburg Heights, more than 700,000 square feet dual-anchored by Giant Eagle and Marc’s, anchors the corridor to the southwest. Together they represent over 1.4 million square feet of grocery- and value-anchored retail on either side of the Property. This is a proven, fully built-out trade area with no meaningful developable land remaining — the definition of an infill location that cannot be replicated. The current rent roll is fully leased across 6 suites, with a weighted average remaining lease term of approximately 4.1 years and no lease expiration prior to November 2029. Blended in-place base rent is $17.04 per square foot against a market range of $18.00 to $28.00 per square foot NNN. Four of the five suites already lease at or above the bottom of that range, validating the rate the location commands; the two legacy suites that do not — together exactly half the center’s GLA — establish a defined path to income growth as leases roll.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$173 USD /SF

CAP RATE

8.52%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

York Road Plaza - 100% Occupied NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

106

LAND DETAILS

LAND ACRES

2.45 AC

LAND SF

106,796 SF

ZONING

c-b 1 &2

APN/PARCEL ID

472-29-023

ASK ABOUT THIS PROPERTY

Joseph KhouriCBRE, Inc.More Info
216-658-6120

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Joseph KhouriCBRE, Inc.More Info
216-658-6120

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