5975 Canal Rd

Single Tenant NN Leased Offering

6,386 SF The Oak Barrel For Sale - Outparcel to the #1 Cinemark in Ohio!

• Price: $1,450,000 ($227/SF)

• Adjusted Net Operating Income (NOI): $154,281.20 (10.37% Cap Rate)

• 10.37% Cap Rate on existing rent (not including percentage rent)

• Oak Barrel is currently in their first option term, expiring 4/30/2028, paying $16,000 in monthly gross rent.

• The lease is structured as a NN lease, Tenant is responsible for all repairs and replacements to the premises, including heating, hot water, electrical, air conditioning, plumbing, doors, roof, patios, structure, exterior walls, glass, loading dock, storefront, floor slab, and ceiling. Tenant is responsible for maintaining both commercial general liability insurance and boiler insurance.

• Landlord is responsible for repair and maintenance of common areas of the shopping center, including the parking areas and landscaping surrounding the premises, and annual property taxes.

• The Valley View Cinemark is ranked #1 in Ohio and #9 nationally out of 179 locations based on # of visits and sales (Source: Placer.ai)

• Average household incomes of $111,659 within a 1-mile radius

• Positioned minutes from Rockside Road which features over 3.8M SF of office space and Top Golf

• One of the most centrally located sites in the market; easily accessible to downtown Cleveland, Independence, Western suburbs and Eastern suburbs

• Dense population of 201,497 with daytime population of 190,553 in a 5 mile radius 

• Positioned minutes from the redeveloped 750,000 SF Highland Park business park 

• Multiple industrial distribution centers constructed in the Valley over 

the past few years