Sheffield Crossing/Sheffield Lake, OH

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Retail

Sheffield Lake, OH

113,688 SqFt

Built in 1989

Suburban Core

94 Percent Occupied, 113,688-Square-Foot Grocery-Anchored Community Shopping Center on Cleveland's West Side
Anchored by Giant Eagle (61.3 Percent of Gross Leasable Area) on a Triple-Net Lease – In-Place Since 1996; Recently Exercised Five-Year Option thru May 2027
Giant Eagle Operates Full-Service Grocery Store at Site with Huntington Bank Branch, State Liquor Agency, Pharmacy and GetGo Gas Station
Giant Eagle Reports Sales of $476 per Square Foot and Low Rent-to- Sales Ratio of 2.6 Percent
Prime Highway-Exit Real Estate - Situated Between the I-90 Exit Ramps (58,000 Vehicles per Day) and the Hard Corner Signalized Intersection of Detroit Road and N Abbe Road (50,000 Vehicles per Day)
0.7-Acre Developable Pad Site Included in Sale – Ripe for Ground Lease or BTS; Located Next to Highly- Trafficked GetGo Along N Abbe Road
Projected Net Operating Income CAGR of 2.38 Percent and 10-Year Net Operating Income Growth of 26.5 Percent (Over $378,000)
94.4 Percent Total Recovery of Real Estate Taxes/Common Area Maintenance/Insurance Expenses on 93.9 Percent Physical Occupancy; Majority of Tenants Subject to Triple-Net or Absolute Triple-Net Ground Leases, Reimburse for Management, and Pay Administrative Fees