Catylist ID: #30477232
Investment/Redevelopment Opportunity, Cleveland
Retail-Commercial for Sale
|Catylist Listing ID:||30477232|
|Property Subtypes:||Car Wash, Convenience Store, Free-Standing Building, Garden Center, Restaurant, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other|
|Building Size (RSF):||8,062 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.96 Acres|
|Unit Price:||$70.08 PSF|
|Property Use Type:||Net Leased Investment (NNN), Vacant/Owner-User|
|Sale Terms:||Cash to Seller|
Overview / Comments
This prime corner lot in downtown Cleveland offers unique opportunities for holding an great site with income in the short-term and redevelopment potential in the long term. The building and location present an excellent site for redevelopment as retail/restaurant, but the current tenant offers income in the meantime.
Currently, the site is home to Mullinax Automotive's Lincoln sales and automotive service center. It has been and remains a great site for automotive use, but it holds great potential for redevelopment for other uses.
This property is well-positioned on the corner of 1st Street, Inman Street and Highland Avenue in the center of town, on and near major throughfares, and close to Lee University. It offers great visibility and accessibility from all main streets. The building, constructed in 1946, offers the type of classic industrial brick and block construction with a "stair step" parapet wall, naturally creating the retro aesthetic that retailers, restaurateurs, and offices are looking for.
This area of Downtown Cleveland, with steady retail-commercial growth, is home to Bald Headed Bistro and Starbucks just across the street, Mash & Hops, Bear Brew Coffee, CBC Cleveland, Catch Bar & Grill, and more just a half-mile away, and the heart of Lee University's Campus just blocks away.
(Note: Cap rate is estimated. Lease terms available with NDA.)
|Tax ID/APN:||049N E 011.00 000|
|Property Located Between:||Keith St and Broad St|
|Largest Nearby Street:||Keith Street|
|Highway Access:||2.7 miles to I-75 ramp|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Total Parking Spaces:||70|
|Parking Description:||Ample surface lot parking|
|Proximity:||1 mile||3 miles||5 miles|
Kate EischeidHerman Walldorf Commercial Greater Chattanooga REALTORS® Member
Benjamin PittsHerman Walldorf Commercial Greater Chattanooga REALTORS® Member
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