14025 Puritas AveCleveland, OH 44135

For Sale
$2,142,000

High-yield CVS Pharmacy, Cleveland, OH

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a 10,125-square-foot Class A CVS Pharmacy located at 14025 Puritas Avenue in Cleveland, Ohio. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $150,000. Built in 1997, this single-story building sits on a 0.717-acre lot and features a triple-net (NNN) lease with CVS Pharmacy, extending until January 31, 2033 (8.2 years remaining). The property benefits from a 100% occupancy rate and a strategic location in a high-traffic area, with Puritas Avenue seeing over 12,509 vehicles per day. The site is an outparcel to a Save A Lot anchored shopping center, further enhancing its visibility and accessibility. Significant nearby development includes a planned $14 million, 48-unit senior housing development slated to open in 2025. The surrounding area demonstrates strong demographics, with a population of 347,421 within a 5-mile radius and an average household income of $77,078. Nearby retailers include Pizza Hut, AutoZone, Burger King, McDonald's, and Walgreens. A brand-new roof was installed in the fall of 2023, minimizing future landlord expenses. The asking price is $2,142,000, translating to $211.56 per square foot. The seller is motivated, making this an attractive opportunity for investors seeking a secure, high-performing asset.

Highlights

  • Motivated seller, seeking all offers.
  • New roof installed Fall 2023.
  • Outparcel in Save A Lot-anchored shopping center.
  • Adjacent to planned $14M, 48-unit senior housing development (opening 2025).
  • High traffic location, near Puritas Avenue (12,509 VPD).
  • Strong demographics: 347,421 residents within 5 miles, $77,078 average household income.

Property Details for 14025 Puritas Ave

Property type
Other retail properties, Individual retail properties
Square Feet
10,125 SF
Class
A
Year Built
1997
Buildings
1
Stories
1
Lot Size (sq. ft)
31,233 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.4331225
Longitude
-81.7912007
14025 Puritas Ave, Cleveland, 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].
14025 Puritas Ave
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