4401 Mayfield RdSouth Euclid, OH 44121

For Sale
$22,795,000

Ohio Grocery Store - $22.795M

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity features a 75,000 square foot Giant Eagle grocery store in South Euclid, Ohio, situated on a 7-acre lot with 370 feet of frontage. The property boasts a strong, 10-year Absolute NNN lease with a corporate guarantee from Giant Eagle, Inc., a leading grocer in Northeast Ohio with $11 billion in annual revenue. Rent bumps are included every five years, ensuring consistent income growth. The location benefits from high visibility and accessibility, ample parking, and a high-traffic count of 26,922 vehicles per day. The surrounding area has a dense population of 117,851 people within a 3-mile radius. Further enhancing the property's value are the on-site state liquor agency and drive-thru pharmacy, both operated by Giant Eagle. The property offers excellent visibility and accessibility, with a signalized intersection and full-movement curb cuts. This is a rare opportunity to acquire a core, Class A retail investment with a long-term lease and significant upside potential. The property is currently 100% occupied, with a lease commencement date of May 7, 1994, and an expiration date of May 31, 2034. Two lease options are available. The property is offered for sale by owner. This is a turnkey investment with a 5.10% cap rate. The single-building property is located at 4401 Mayfield Rd, South Euclid, OH 44121.

Highlights

  • $22,795,000 asking price for a Class A, 75,000 square foot grocery store.
  • Giant Eagle, a leading Northeast Ohio grocer with an $11 billion corporate guarantee, is the anchor tenant.
  • Absolute NNN lease with rent increases every five years, expiring May 31, 2034.
  • High-density location with 117,851 people within a 3-mile radius and 26,922 vehicles per day.
  • 7-acre parcel with 370 feet of frontage, signalized access, and ample parking.
  • Includes an on-site state liquor agency and drive-thru pharmacy.

Property Details for 4401 Mayfield Rd

Property type
Other retail properties, Individual retail properties
Square Feet
75,000 SF
Class
A
Buildings
1
Lot Size (sq. ft)
304,920 SF
Units
1

Location Insight

City
South Euclid
County
Cuyahoga
State
Ohio
Latitude
41.520886630955
Longitude
-81.521428948705
4401 Mayfield Rd, South Euclid, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
4401 Mayfield Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message