6130 Kruse Dr - Retail FOR SALE


Solon, OH 44139
$7,145,000 USD
216-562-1981
6130 Kruse Dr, Solon, OH for Sale
$7,145,000 USD
Retail - FOR SALE
1/39
null | 6.75% Cap Rate

6130 Kruse Dr
Solon, OH 44139


HIGHLIGHTS

  • Highly Desirable, Extremely Rare Offering: 2 Building, All NNN, 78% Occupied Ctr in Highly Affluent Area Anchored by Panera Bread (Long-Term Lease)
  • Major Upside Available (Anticipated Approx. $2.7M+ at Stabilization) Through Lease-Up of Two Vacancies & Many Tenants with Built-In Rental Increases
  • Immaculate Curb Appeal in One of Cleveland’s Most Sought After Areas for Residents & Businesses: Extremely High Avg. HH Incomes $195k+ in 3 miles
  • Acclaimed School System: Report Card Rank #1 in the State for 8 Yrs in a Row, 15 Yrs in a Row by Cleveland Magazine & Ranked Top Places to Raise Kids
  • Panera with Drive-Thru and Middlefield Bank with Double Drive-Thru | Over 63% of Leased Space has Been Renewed (Including All Three Anchor Tenants)

OVERVIEW

• Highly Desirable, Extremely Rare Offering: 2 Building, All NNN, 78% Occupied Center in Highly Affluent Area Anchored by Panera Bread on Long-Term Lease & Cleveland’s #1 Rated Ice Cream, Mitchell’s Homemade • Major Upside Available (Anticipated Approximately $2.7M+ at Stabilization) Through the Lease-Up of Two Vacant • Many Tenants with Built-In Rental Increases to Further Enhance NOI Growth • Successful Tenancy Consistently Exercising Renewals: Over 63% of the Leased Space has Been Renewed (Including All Three Anchor Tenants), Further Enhancing Rent Roll Stability • Extremely High Avg. Household Incomes of Over $195,000 in 3-Mile Radius • Original Owner/Developer & First Time Ever Listed for Sale with Immaculate Curb Appeal in One of Cleveland’s Most Sought After Areas for Residents and Businesses: • Acclaimed Public School System with Report Card Ranking of #1 in the State for 8 Years in a Row, 15 Years in a Row by Cleveland Magazine, and Ranked as One of the "Best Places to Raise Kids" by Bloomberg Businessweek • Middlefield Bank Building Offers Double Drive-Thru Lanes and Adjacent Panera Bread Also Includes a Single Drive-Thru Lane for Easy Customer Access • Recognized by Money Magazine as "Best Places to Live" Multiple Times as the City is One of the Safest in Ohio • Adjacent to New Senior Living Center (Vitalia of Solon) Boasting 150+ Units, Along with Solon KinderCare, Nest School, BMW, Jaguar, University Hospitals Health Services & Urgent Care Buildings, All Creating a Constant Flow of Community Traffic to the Kruse Commons Corridor • Dynamic Mix of Service-Oriented Retail/Service/Restaurant Users, Truly a Recession and Internet Proof Asset • Excellent Frontage with All Units Having Accessible Rear Entrances with Glass Doors, Which Many Tenants Utilize • Immediate Corridor: Surrounded by the Complimentary Users of Neighboring Uptown Solon, Including ULTA Beauty, Tractor Supply, First Watch, John Roberts Salon & Spa, Dogtopia, Kids Empire and Fitness Together, While Also Being Positioned in the Direct Vicinity Various Office Buildings, Bryant & Stratton, Hobby Lobby, Marc’s Discount, Rollhouse Solon, Burntwood Tavern, Chick-fil-A and More • Just Off Route 91 (38,000 VPD) at US-422 (55,000 VPD Along Highway) and Positioned in a Commercial District Surrounded by Solon’s Most Heavily Traveled Roadways with Over 58,500 VPD Surrounding the Asset • Abundant Amenities: Solon Offers Hotels (Hampton Inn, TownPlace Suites by Marriott and Homewood Suites by Hilton), Along with Longhorn Steakhouse, DiBella’s Subs, Taco Bell and Hunan Solon and Access to Solon’s Incredible Retail Market, Including Home Depot, Giant Eagle Market District, Hobby Lobby, Chipotle, Starbucks, Panera Bread, Ulta and Many, Many More • Desirable Suburban Community: Short Commute (18 Miles) to Downtown Cleveland, 27 Miles to Downtown Akron and 21 Miles to Cleveland Hopkins International Airport • Surrounded by Major Employers: Swagelok (3,500 Employees), Nestle/Stouffers (2,350 Employees), CVS/Caremark, Pentair, Signature of Solon Residences and Country Club, National Enterprise Systems, Jerpbak-Bayless (0.5 Miles), Sedlak Interiors and Branches of the World-Renowned Cleveland Clinic Foundation (the City of Cleveland’s Largest Employer), University Hospitals and Akron Children's Hospital Health Systems

FOR SALE DETAILS

PRICE

$7,145,000 USD

PRICE/SF

$275 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rare Offering | 2 Bldg All NNN | Huge Upside!

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Bank, Freestanding, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

2.86 AC

LAND SF

124,582 SF

ZONING

-

APN/PARCEL ID

952-20-006

ASK ABOUT THIS PROPERTY

Daniel CooperCooper Commercial Investment GroupMore Info
216-562-1981

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Daniel CooperCooper Commercial Investment GroupMore Info
216-562-1981

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.