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Shopping Neighborhood

Turney Town Plaza

4908 Turney Rd, Garfield Heights, OH 44125

Listing Price: $10,685,000

Cap Rate
8.50%
Gross SF
168,062
Rentable SF
168,062
Price/Gross SF
$63.58
Lot Size
13.69 acres
Year Built
1958

Investment Overview

Marcus & Millichap is pleased to present for sale Turney Town Plaza in Garfield Heights, Ohio. 100 Percent Occupied, 168,062 Square Foot Grocery-Anchored Community Shopping Center.. High-Yield Opportunity Priced Well Below Replacement Cost at $63 per Square Foot. 1,000 Feet of Frontage Along Turney Road – Garfield Heights’ Primary Thoroughfare with 20,000 Cars per Day. Garfield Heights is a “City of Homes” – 29,000 Residents with Very Little Retail/Commercial Presence Creating Historically High Occupancy and Minimal Competition for Tenants.

Investment Highlights

  • 100 Percent Occupied, 168,062 Square Foot Grocery-Anchored Community Shopping Center in Garfield Heights, Ohio (Cleveland MSA)
  • Anchored by Dave's Markets Grocery Store (34 Percent of GLA) on NNN Lease thru 12/2026 – Grocery Anchor In Place for 45 Years
  • Dave's Markets Reports Consistently Strong Sales; Low 1.77 Percent Rent-to-Sales Ratio
  • Offered Free and Clear of Existing Debt Providing Ability for Purchaser to Secure Acquisition Financing Pursuant to Investment Strategy
  • Substantial Base of Long-Term Tenants – 54 Percent of GLA In-Place Over 20 Years
  • Dense Infill Demographics – 14,100 Residents within One Mile; 87,400 within Three Mile and 254,500 within Five Mile Population Counts
  • New Facade Installed at Shopping Center in 2016
  • National Small-Shop Tenants Include Advance Auto Parts, Sherwin-Williams, Huntington Bank, Domino's Pizza, H&R Block, Rent-A-Center, Subway & Young America Insurance

Exclusively Listed By

Shopping Neighborhood

Turney Town Plaza

Listing Price: $10,685,000

Cap Rate
8.50%
Gross SF
168,062
Rentable SF
168,062
Price/Gross SF
$63.58
Lot Size
13.69 acres
Year Built
1958

Investment Highlights

  • 100 Percent Occupied, 168,062 Square Foot Grocery-Anchored Community Shopping Center in Garfield Heights, Ohio (Cleveland MSA)
  • Anchored by Dave's Markets Grocery Store (34 Percent of GLA) on NNN Lease thru 12/2026 – Grocery Anchor In Place for 45 Years
  • Dave's Markets Reports Consistently Strong Sales; Low 1.77 Percent Rent-to-Sales Ratio
  • Offered Free and Clear of Existing Debt Providing Ability for Purchaser to Secure Acquisition Financing Pursuant to Investment Strategy
  • Substantial Base of Long-Term Tenants – 54 Percent of GLA In-Place Over 20 Years
  • Dense Infill Demographics – 14,100 Residents within One Mile; 87,400 within Three Mile and 254,500 within Five Mile Population Counts
  • New Facade Installed at Shopping Center in 2016
  • National Small-Shop Tenants Include Advance Auto Parts, Sherwin-Williams, Huntington Bank, Domino's Pizza, H&R Block, Rent-A-Center, Subway & Young America Insurance

Investment Overview

Marcus & Millichap is pleased to present for sale Turney Town Plaza in Garfield Heights, Ohio. 100 Percent Occupied, 168,062 Square Foot Grocery-Anchored Community Shopping Center.. High-Yield Opportunity Priced Well Below Replacement Cost at $63 per Square Foot. 1,000 Feet of Frontage Along Turney Road – Garfield Heights’ Primary Thoroughfare with 20,000 Cars per Day. Garfield Heights is a “City of Homes” – 29,000 Residents with Very Little Retail/Commercial Presence Creating Historically High Occupancy and Minimal Competition for Tenants.

Exclusively Listed By

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