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Shopping Strip

Glengate Shopping Center

359 S Green Rd, South Euclid, OH 44121

Listing Price: $1,420,000

Cap Rate
8.00%
Gross SF
24,950
Rentable SF
24,950
Price/Gross SF
$56.91
Lot Size
4.89 acres
Year Built
1958

Investment Overview

This opportunity offers investors the chance to acquire a 100 percent occupied, 24,950-square foot Dollar General–anchored strip center strategically positioned in an infill Cleveland location. The property is offered at just $58.00 per square foot, less than 40 percent of replacement cost. Dollar General, which occupies 43% of the GLA and contributes 47% of total income, has operated at this location since 1997 and is secured on a NNN lease through February 2028.

The center benefits from a diverse daily-needs tenant mix including discount retail, child care, restaurant, and personal services, with minimal competing retail within a two-mile radius. The property features excellent visibility, frontage, ingress/egress, and parking orientation, while being located less than 10 miles from both Downtown Cleveland and the Cleveland Clinic main campus.

Investment Highlights

  • 100% Occupied | 24,950-Square Foot Dollar General–Anchored Strip Center | Prime Infill Cleveland Location
  • Priced at Just $58 per Square Foot — Less Than 40% of Replacement Cost
  • Anchored by Dollar General (43 Percent of GLA, 47 Percent of Total Income) on NNN Lease thru 2/2028; Tenant Since 1997
  • Cheap In-Place Rents: $5.12 per Square Foot NNN Average
  • Short WALT (Weighted Avg. Lease Term) of 3.6 Years Provides Path to Upside in Increasing Rents; Only One Tenant has a Renewal Option
  • Dense/Infill Location: 11,299 People in 1 Mile | 283,790 in Five Miles

Exclusively Listed By

Financing By

Shopping Strip

Glengate Shopping Center

Listing Price: $1,420,000

Cap Rate
8.00%
Gross SF
24,950
Rentable SF
24,950
Price/Gross SF
$56.91
Lot Size
4.89 acres
Year Built
1958

Investment Highlights

  • 100% Occupied | 24,950-Square Foot Dollar General–Anchored Strip Center | Prime Infill Cleveland Location
  • Priced at Just $58 per Square Foot — Less Than 40% of Replacement Cost
  • Anchored by Dollar General (43 Percent of GLA, 47 Percent of Total Income) on NNN Lease thru 2/2028; Tenant Since 1997
  • Cheap In-Place Rents: $5.12 per Square Foot NNN Average
  • Short WALT (Weighted Avg. Lease Term) of 3.6 Years Provides Path to Upside in Increasing Rents; Only One Tenant has a Renewal Option
  • Dense/Infill Location: 11,299 People in 1 Mile | 283,790 in Five Miles

Investment Overview

This opportunity offers investors the chance to acquire a 100 percent occupied, 24,950-square foot Dollar General–anchored strip center strategically positioned in an infill Cleveland location. The property is offered at just $58.00 per square foot, less than 40 percent of replacement cost. Dollar General, which occupies 43% of the GLA and contributes 47% of total income, has operated at this location since 1997 and is secured on a NNN lease through February 2028. The center benefits from a diverse daily-needs tenant mix including discount retail, child care, restaurant, and personal services, with minimal competing retail within a two-mile radius. The property features excellent visibility, frontage, ingress/egress, and parking orientation, while being located less than 10 miles from both Downtown Cleveland and the Cleveland Clinic main campus.

Exclusively Listed By

Financing By

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