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Grocery Store

Save-A-Lot

12432 St Clair Ave., Cleveland, OH 44108

Listing Price: $2,433,000

Cap Rate
7.00%
Tenant Name
Save-A-Lot
Years Remaining On Lease
7.1
Gross SF
16,450
Guarantor
No Guarantee
Rentable SF
16,450
Price/Gross SF
$147.90
Lease Type
Double Net
Rent Per Square Feet
$10.35

Investment Overview

Marcus & Millichap is pleased to present for sale, Save-A-Lot in Cleveland, Ohio. Save-A-Lot Double-Net Lease with Seven Years Remaining in Cleveland, Ohio. Major 31-Unit Ohio-Based Franchisee with 13 Other Stores in the Cleveland MSA (Plus 17 More in Central/Southern Ohio). Hard-Corner, High Visibility Location at Intersection of St. Clair Ave and E 125th Street with a Combined 17,500 Vehicles per Day. Save-A-Lot is being offered for $2,433,000.

Investment Highlights

  • Save-A-Lot Double-Net Lease with Seven Years Remaining in Cleveland, Ohio
  • Significant Investment by Franchisee in Store's Long-Term Success – Franchisee Just Acquired Location from Corporate in 2021
  • 27-Years of Tenancy – Tenant Since 1996 with History of Four Lease Renewals
  • Approximately 6 Percent Scheduled Rent Increase in 2025 with 18 Percent Rent Increase in Next Option
  • Double-Net Structure – Minimal Landlord Responsibilities – Roof/Structure/Major HVAC Only
  • Dense Infill Location – 19,677 Within One-Mile Population, 114,504 Within Three-Mile Population
  • Located Just 0.7-Mile from I-90 Exit Ramps at Eddy Road (126,000 Vehicles per Day)
  • Hard-Corner, High Visibility Location at Intersection of St. Clair Ave and E 125th Street with a Combined 17,500 Vehicles per Day.

Exclusively Listed By

Grocery Store

Save-A-Lot

Listing Price: $2,433,000

Cap Rate
7.00%
Tenant Name
Save-A-Lot
Years Remaining On Lease
7.1
Gross SF
16,450
Guarantor
No Guarantee
Rentable SF
16,450
Price/Gross SF
$147.90
Lease Type
Double Net
Rent Per Square Feet
$10.35

Investment Highlights

  • Save-A-Lot Double-Net Lease with Seven Years Remaining in Cleveland, Ohio
  • Significant Investment by Franchisee in Store's Long-Term Success – Franchisee Just Acquired Location from Corporate in 2021
  • 27-Years of Tenancy – Tenant Since 1996 with History of Four Lease Renewals
  • Approximately 6 Percent Scheduled Rent Increase in 2025 with 18 Percent Rent Increase in Next Option
  • Double-Net Structure – Minimal Landlord Responsibilities – Roof/Structure/Major HVAC Only
  • Dense Infill Location – 19,677 Within One-Mile Population, 114,504 Within Three-Mile Population
  • Located Just 0.7-Mile from I-90 Exit Ramps at Eddy Road (126,000 Vehicles per Day)
  • Hard-Corner, High Visibility Location at Intersection of St. Clair Ave and E 125th Street with a Combined 17,500 Vehicles per Day.

Investment Overview

Marcus & Millichap is pleased to present for sale, Save-A-Lot in Cleveland, Ohio. Save-A-Lot Double-Net Lease with Seven Years Remaining in Cleveland, Ohio. Major 31-Unit Ohio-Based Franchisee with 13 Other Stores in the Cleveland MSA (Plus 17 More in Central/Southern Ohio). Hard-Corner, High Visibility Location at Intersection of St. Clair Ave and E 125th Street with a Combined 17,500 Vehicles per Day. Save-A-Lot is being offered for $2,433,000.

Exclusively Listed By

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