Shopping Strip
Shoppes at Bagley
17887 Bagley Rd, Cleveland, OH 44130
Listing Price: $4,620,000
Investment Overview
2019-Built, 3-Tenant NNN Retail Strip in Middleburg Heights, OH (Cleveland MSA). Class “A” Center on Oversized Two-Acre Lot with Ample Parking and Three Points of Ingress/Egress. Excellent Frontage & Visibility to Bagley Road with 20,790 VPD and Adjacent to Busy Intersection with a Combined 36,310 VPD. Highway Exit Location – Just 0.2 Mile from I-71 Exit Ramps Seeing 105,785 VPD; Major North-South Interstate Spanning Cleveland’s West Side.
Shoppes at Bagley
Investment Highlights
- 2019-Built, 3-Tenant NNN Retail Strip in Middleburg Heights, OH (Cleveland MSA)
- 11.3 Years WALT Across Three Experienced Mult-Unit Franchises of National Restaurant/QSR Brands
- Anchored by IHOP (55% of GLA) on 20.5-Year NNN Lease into 2041 with 16 Years Remaining
- Jersey Mike's Subs & Tropical Smoothie Café Both Leased into 2030 with 10% Rent Increases in Options
- All NNN Leases with 100% Recovery of RE Taxes & Insurance, 90% Recovery of CAM, and 10-15% Admin Fees on CAM & Ins
- Ease of Management – Approx. 6-Year Old Building/ Infrastructure with Minimal Deferred Maintenance, Only 3 Tenants
- Situated Across from Newly Redeveloped Retail/ Medical Center with Cleveland Clinic Family Health Center, Panera Bread, Raising Cane's, Clean Express Car Wash and 7Brew; "Restaurant Row" Location within Immediate Proximity to Starbucks, Chipotle, Five Guys, McDonald's, Taco Bell, Dunkin, and More
- Located 0.25-Mile from 368-Bed Southwest General Hospital Main Campus – Level III Trauma Center with Recent $124-Million Expansion, Over 400,000 Annual Patient Visits & 1,850 FTE Employees On-Site
Listing Price: $4,620,000
Investment Highlights
- 2019-Built, 3-Tenant NNN Retail Strip in Middleburg Heights, OH (Cleveland MSA)
- 11.3 Years WALT Across Three Experienced Mult-Unit Franchises of National Restaurant/QSR Brands
- Anchored by IHOP (55% of GLA) on 20.5-Year NNN Lease into 2041 with 16 Years Remaining
- Jersey Mike's Subs & Tropical Smoothie Café Both Leased into 2030 with 10% Rent Increases in Options
- All NNN Leases with 100% Recovery of RE Taxes & Insurance, 90% Recovery of CAM, and 10-15% Admin Fees on CAM & Ins
- Ease of Management – Approx. 6-Year Old Building/ Infrastructure with Minimal Deferred Maintenance, Only 3 Tenants
- Situated Across from Newly Redeveloped Retail/ Medical Center with Cleveland Clinic Family Health Center, Panera Bread, Raising Cane's, Clean Express Car Wash and 7Brew; "Restaurant Row" Location within Immediate Proximity to Starbucks, Chipotle, Five Guys, McDonald's, Taco Bell, Dunkin, and More
- Located 0.25-Mile from 368-Bed Southwest General Hospital Main Campus – Level III Trauma Center with Recent $124-Million Expansion, Over 400,000 Annual Patient Visits & 1,850 FTE Employees On-Site
Investment Overview
2019-Built, 3-Tenant NNN Retail Strip in Middleburg Heights, OH (Cleveland MSA). Class “A” Center on Oversized Two-Acre Lot with Ample Parking and Three Points of Ingress/Egress. Excellent Frontage & Visibility to Bagley Road with 20,790 VPD and Adjacent to Busy Intersection with a Combined 36,310 VPD. Highway Exit Location – Just 0.2 Mile from I-71 Exit Ramps Seeing 105,785 VPD; Major North-South Interstate Spanning Cleveland’s West Side.
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