Pine Ridge Plaza

Willoughby, Ohio

Offering Summary

  • Status: active
  • Price: $6,750,000
  • CAP Rate: 8.30%
  • GLA: 49,539 SF
  • Net Operating Income: $561,007
  • Price/SF: $136.26
  • Year(s) Built: 1987
  • Lot Size (Acres): 5.19
  • Major Tenants: Bruegger's Bagels, Subway, The UPS Store, Howard Hanna, Sims-Lohman
  • 90.58% Occupied Grocery Shadowed Neighborhood Center in Cleveland MSA
  • Shadow-Anchored by Heinen’s Fine Foods Supermarket with 23 Locations in OH and IL
  • Well-Maintained Property Showing Strong Pride of Ownership – Owned by Original Local Family Who Developed and Has Managed the Property for Over 35 years
  • Nearly $200,000 in Capital Improvements Since 2019 Including Roof, Asphalt, and Concrete
  • Tenants Include Howard Hanna, The UPS Store, Subway, Bruegger’s Bagels, Citizens Bank Drive Thru
  • 1-Mile Population of 10,047, 3-Mile Population of 58,173, 5-Mile Population of 129,328
  • Above Average Annual Income Area with Average 1-Mile Household Income of $71,089
  • 7 Tenants at Location for over 20 Years Including Howard Hanna, The UPS Store, and Bruegger’s Bagels
  • 13 Tenants at Location for Over 10 Years
  • Easy-Access from I-271 and I-90 with Over 42,700 Vehicles Per Day on SOM Center Rd and Ridge Rd Intersection
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director