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Save-A-Lot Shopping Center in Cleveland "Opportunity Zone" 3024 Clark Ave Cleveland, Oh 44109

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Save-A-Lot Shopping Center in Cleveland SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" 3024 CLARK AVE CLEVELAND, OH 44109 Victor S. Voinovich Sr. Managing Director 888.236.1435 [email protected] SVN | FIRST PLACE COMMERCIAL REALTY, LLC | 308 EAGLETON CT. #200, CLEVELAND, OH 44056 OFFERING MEMORANDUM PROPERTY INFORMATION 1 Disclaimer Property Summary Location Description Complete Highlights Rent Roll Tenant Profile Site Plan Regional Map Location Maps Area Views Aerial Map Sale Comps Sale Comps Summary Sale Comps Map Additional Photos Additional Photos Additional Photos Demographics Report Demographics Map District 2 CLARK-FULTON NEIGHBORHOOD PLAN SUMMARY Cuyahoga County Profile Cleveland, Ohio Northeast Ohio Advisor Bio & Contact 1 Back Page SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 OFFERING MEMORANDUM 1 PROPERTY INFORMATION 3024 Clark Ave Cleveland, OH 44109 SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 3 Disclaimer The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 4 The information presented here is deemed to be accurate, but it has not been independently verified. eW make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Property Summary OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $2,633,000 Save a Lot Shopping Center is a two-tenant property anchored Price / SF: $78.24 by a national value-oriented grocery and shadow-anchored by Cap Rate: 7.5% AutoZone, one of the largest auto parts retailers in the country. NOI: $197,475 Lot Size: 2.28 Acres The property is located in the Clark-Fulton neighborhood of Year Built: 1966 Cleveland and is surrounded by a variety of other retailers. Building Size: 33,653 SF Save a Lot is the only grocery in the immediate area. Renovated: 2005 Zoning: Commercial Market: Cleveland Cross Streets: West 30th Street Submarket: Southwest APN: 007-26-028 Number Of Stories: 1 Number Of Units: 2 SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 5 The information presented here is deemed to be accurate, but it has not been independently verified. eW make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Location Description LOCATION OVERVIEW Save a Lot shopping Center is located approximately 7 minutes to Downtown Cleveland in a near west side neighborhood known as “Clark-Fulton”, in close proximity to the corner of Clark Avenue and West 30th Street, a highly traveled intersection. It is part of Cleveland’s District 2 planning grouping which is made up of 7 neighborhood segments including Clark-Fulton. Development in Tremont, Ohio City, Stockyards, and the Detroit Shoreway neighborhoods that surround Clark-Fulton has been robust over the past 10 years. Each of these neighborhoods has experienced new and renovated housing, retail, and other commercial options. These have contributed to the vibrancy of Clark-Fulton and their impacts will continue into the foreseeable future. Included in the Clark-Fulton neighborhood is its anchor, Metro General Hospital, Cleveland's third largest hospital system, that is currently building a new campus investing over $1 Billion. The Clark-Fulton neighborhood is benefited by Interstates 71, 90 and 490 connecting it to downtown and surrounding Cleveland neighborhoods and suburbs. The property is located in an “OPPORTUNITY ZONE” which will provide incentives for increased development throughout this neighborhood. The property benefits from two entrances on Clark Avenue and a service entrance off Walton Ave. The property enjoys a high walkable score with high trafficolume, v close to 22000 vpd. SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 6 The information presented here is deemed to be accurate, but it has not been independently verified. eW make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Complete Highlights SALE HIGHLIGHTS • Grocery- anchored til 2028 by Save a Lot • Located 7 minutes to Downtown Cleveland • Shadow Anchored by AutoZone currently (being marketed for sale by same owner • Located in an "Opportunity Zone" • Near large hospital system which currently is spending over $1 Billion on a new campus • Near heavily-retailed area with numerous options for eateries, drug stores, auto parts, and other necessities • Surrounded by prominent Cleveland neighborhoods that are seeing multiple investments • Population of almost 300,000 within a five mile radius • High Traffict a Clark and West 30th -approximately 22000 VPD with good signage and visability • Walkable Center and covered public transportation stop in front of center SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 7 The information presented here is deemed to be accurate, but it has not been independently verified. eW make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Rent Roll TENANT UNIT LEASE LEASE ANNUAL % OF PRICE NAME SIZE (SF) START END RENT GLA PER SF/YR Save a Lot 20,445 3-03-06 08-31-28 $166,627 60.75 $8.15 Dollar Mart 13,208 09-27-06 09-30-24 $81,229 39.25 $6.15 Totals/Averages 33,653 $247,856 $7.37 SAVE-A-LOT SHOPPING CENTER IN CLEVELAND "OPPORTUNITY ZONE" | 3024 CLARK AVE, CLEVELAND, OH 44109 SVN | First Place Commercial Realty, LLC | Page 8 The information presented here is deemed to be accurate, but it has not been independently verified. eW make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Tenant Profile OVERVIEW SAVE-A-LOT Company: Save-A-Lot Food Stores Ltd. Save-A-Lot is the nation's leading extreme value, limited-assortment grocery chain, operating more than 1,280 value-oriented stores in all types of Founded: 1977 neighborhoods - urban, rural and suburban - and delivering terrific savings of up to 40 percent Number Of Locations: 1,280 compared to conventional grocery stores.
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