Shopping Neighborhood
Turney Town Plaza
4908 Turney Rd, Garfield Heights, OH 44125
Listing Price: $10,685,000
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.
Turney Town Plaza
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
Listing Price: $10,685,000
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
