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Off Market
1/2

7901-8101 Euclid Ave
Cleveland, OH 44103


HIGHLIGHTS


OVERVIEW

Marcus & Millichap, on behalf of ownership, is pleased to present The Shops at Church Square in Cleveland, Ohio. The subject property is a 109,304-squarefoot community shopping center that is situated on 8.29 acres and currently 93.5 percent occupied. Simon’s Supermarket and Family Dollar anchor the center, combining for over 35 percent of the occupied leasable area, and contributing nearly 25 percent of the gross rental income. The center features attractive all-brick construction and enhanced architecture, with a mix of national, regional, and local service and goods oriented retailers. Some of the more well-known tenants include Pizza Hut, Jackson Hewitt, Rent-A-Center, Subway, Boost Mobile, and US Bank. Approximately 92 percent of currently occupied space is leased into 2021, providing excellent stability with minimal lease rollover in the near to mid-term. The center benefits from minimal competition, as it is the only multi-tenant retail shopping center over 15,000-square-feet in size within a one and one-half mile radius. The Shops at Church Square sits just two and one-half miles east of Downtown Cleveland, between Chester Avenue and Euclid Avenue in an area known as Midtown. The shopping center is oriented towards the signalized intersection of Euclid Avenue and East 79th Street, with combined traffic counts of 54,829 cars per day on all three streets surrounding the property. Cleveland Clinic’s sprawling Main Campus is less than one-half mile to the east, with 44 buildings situated on over 167 acres, and 1,400 inpatient beds. University Circle is also less than one mile east of the subject property and is home to Case Western Reserve University, University Hospitals Cleveland Medical Center, Severance Hall (Cleveland Orchestra), Cleveland Museum of Art, Cleveland Museum of Natural History, Louis Stokes Veterans Affairs Hospital, Cleveland Institute of Art, Museum of Contemporary Art, Cleveland Institute of Music, Cleveland Botanical Garden, Lake View Cemetery, and Little Italy. Between the hospitals, higher education, and arts, University Circle is a major destination for Northeast Ohio residents and out-of-town tourists alike. There are extremely dense infill demographics in the surrounding area, with 14,708 residents within one mile, 127,635 residents in three miles, and 294,918 residents within five miles. The Cleveland metropolitan area is the largest in Ohio, with a population of over 2 million.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

The Shops at Church Square | 8.5% CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store, Storefront, Supermarket

TOTAL BUILDING SIZE

109304

STORIES

2

YEAR BUILT

1992

SPRINKLERS

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PARKING SPACES

250

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

119-02-089,119-02-090