Royalton Center

Broadview Heights, OH

Offering Summary

  • Status: active
  • Price: $8,495,000
  • Cap Rate: 7.00%
  • GLA: 31,023 SF
  • Net Operating Income: $593,185
  • Price/SF: $274
  • Year(s) Built: 1981 – 1985
  • Year(s) Renovated: 2017
  • Lot Size (Acres): 3.39
  • Major Tenants: Kiddie Academy, F45 Training Brecksville, Paint Nail Bar, Bubbakoo's Burritos, Club Pilates, Pulp Juice & Smoothie Bar, Wayback Burgers

Call for Offers: Thursday, October 8th

  • 2 High-Traffic Inline Retail Strips + NNN Leased Single-Tenant Kiddie Academy in High-Income Cleveland Suburb
  • Strip Centers Serviced By Daily-Needs, Service-Oriented Tenants Including Jersey Mike’s, Club Pilates, Sport Clips, Paint Nail Bar, F45 Training & Wayback Burgers
  • Single-Tenant NNN-Leased Kiddie Academy With 12 Years Of Remaining Lease Term / Multiple 5-Year Options / Already Separately Parceled
  • Significant Strip Center Upside via 2,040 SF (10.2% of GLA) Vacant Space Lease-Up; +140bps CAP Rate
  • Small, Highly-Visible Strip Center Bays / 2,002 SF Avg. Size / 9 of 10 are 2,500 SF or Smaller
  • Shadowed by High-Volume (Top 30% in Ohio) Giant Eagle Grocery Store with 864K Visits/Year
  • $164K / $144K / $130K AHHI on 1 / 3 / 5-Mile Basis; Highly Affluent Consumer Base
  • 21,897 VPD on RT-82; with Prime Frontage/Visibility | Immediate Access To I-77 With 67,499 VPD
  • Replaceable In-Place Strip Center Rents: AVG = $23.25/SF NNN
  • Dense Retail And Medical Corridor; Strong Surrounding Traffic Drivers such as Nearby University Hospitals and MetroHealth Facilities.
  • NNN Lease Structures Across All Tenants & Leases / Minimizing Landlord Expense Exposure
  • Kiddie Academy: Strong Early Childhood Education Tenant With National Footprint / Locally-Based Site-Level Franchisee/Operator
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director