7500 Brookpark RdCleveland, OH 44129

This fee-simple, 80,615 square foot shopping center in Cleveland, Ohio, presents a compelling value-add investment opportunity. Located at 7500 Brookpark Rd, in Cuyahoga County (zip code 44129), this 100% occupied property boasts two tenants on a 6.76-acre lot. The property features Value City Furniture, a long-term tenant since 1986, currently operating under a triple net (NNN) lease expiring May 31, 2034, at a below-market rent. Their lease represents a significant opportunity for future rental increases. The second tenant, Nightmare Cleveland, a permanent haunted house, signed a five-year lease in 2022, with a stabilized gross rent of $5.90 per square foot commencing October 2024. The property's current asking price is $3,160,000, reflecting an in-place cap rate of 8.25% based on a projected 2024 net operating income (NOI) of $260,673. The property benefits from its prime location within a thriving retail corridor, neighboring major retailers such as Menards, Best Buy, and Arhaus Loft, and across the highway from Ridge Park Square, which includes Lowe's, TJ Maxx, and other national brands. The property offers potential for future redevelopment, allowing for short-term cash flow while planning for long-term retail or industrial projects. The unencumbered asset presents a strong value-add opportunity with significant upside potential. The current lease terms for both tenants provide a stable income stream, with the potential for substantial rent increases in the future.