This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Dunkin' Ground Lease 8810 Pearl Rd

1,860 SF Retail Building Strongsville, OH 44136 $2,413,000 ($1,297/SF) 5.50% Cap Rate

Investment Highlights

  • Brand New 15-Year Absolute NNN Corporate Ground Lease to Dunkin’ with Scheduled 10% Rental Escalations throughout Primary Term
  • Brand New Highly-Functional 2024 Construction with Double Drive-Thru Component
  • Neighboring Walmart Draws 3.3 Million Annual Visits per Year, Per Placer.Ai - Top 5% Location in Ohio for Walmart & Top 15% Location Nationwide
  • Corporate Guaranty from Parent Company - Dunkin Holding Company
  • Population of 156,315 within a 5 Mile Radius & Average Household Income of $108,997 within 3 Miles of Site
  • Approximately 16 Miles from Downtown Cleveland

Executive Summary

The subject property is prominently located with excellent access and visibility at the intersection of Whitney Road (9,070 AADT) and Pearl Road (31,895 AADT) adjacent to its intersection with I-80/Ohio Turnpike (40,299 AADT) approximately 18 miles from downtown Cleveland. The site benefits from robust demographics with a population of 156,315 within a 5 mile radius. Average household income within 3 miles of the site is $108,997.
The property benefits from a prominent retail location in close proximity to shopping centers, employers, and major retail tenants. Nearby retail centers include Crest Center, anchored by Walmart Supercenter (3.3 million annual visits, top 15% location nationwide, top 5% location in Ohio, per Placer.ai), Lowe’s Home Improvement (690,000 annual visits), and Discount Drug Mart; Southland Shopping Center (4.5 million annual visits), featuring Petco, State Liquor Agency, Dollar Tree, & Tuesday Morning; Middleburg Heights Plaza, anchored by Gabe’s; Pearl Road Shopping Center (589,900 annual visits), anchored by Harbor Freight Tools and Big Lots; The Greens of Strongsville (3.5 million annual visits), featuring Target & Heinen’s Grocery Store; The Plaza at SouthPark (5 million annual visits), anchored by Costco; Southpark Mall (3.3 million annual visits), anchored by Macy’s, Dillard’s, and Kohl’s; and Strongsville Plaza (450,000 annual visits), anchored by Rite Aid.
In addition, the property is located approximately 3 miles from Southwest General Middleburg Medical Center, a 233-bed hospital employing approximately 2,748. The site is approximately 3 miles from Baldwin Wallace University, with approximately 3,504 students enrolled, and 5 miles from the Western Campus of Cuyahoga Community College. The property is situated approximately 6 miles from the Cleveland Hopkins International Airport, Ohio’s busiest airport with more than 10 million passengers per year.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946

Property Facts

Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,860 SF
Building Class
B
Year Built
2024
Price
$2,413,000
Price Per SF
$1,297
Cap Rate
5.50%
NOI
$132,713
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
0.18 AC

Nearby Major Retailers

Buffalo Wild Wings
O'Charley's
Woodforest National Bank
Starbucks
PNC Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
395-06-009
Land Assessment
$68,220
Improvements Assessment
$34,510
Total Assessment
$102,730
  • Listing ID: 32788448

  • Date on Market: 8/13/2024

  • Last Updated:

  • Address: 8810 Pearl Rd, Strongsville, OH 44136

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}