Westwood Town Center

21653 Center Ridge Road, Rocky River, OH, 44116, US

Description

Address: 21653 Center Ridge Road, Rocky River, OH 44116

GLA: 226,155

Occupancy: 95.00%

Year 1 NOI: $2,340,000

Stabilized NOI: $2,640,000

5-Year CAGR: 4.7%

Number of Suites: 24

WALT: 5 Years

Jon Vanderplough: OH BRKP.2025003584

...

Occupancy

95%

WALT

5 years

Units

Home Depot & Marc’s Anchored Asset
Home Depot accounts for 30% of income and recently extended five (5) additional years
Marc’s accounts for 25% of income
Stable Cash Flow with Value-Add Opportunities
48% of in-place small shop tenancy does not have fixed rate options, allowing investors to mark rent to market upon expiration
Single tenant Dairy Queen (features drive-thru) is 30% below market with no remaining options following expirations in 2030
10,850 sf of vacancy across two units allows next investor immediate upside through leasing
Ideal Income Diversification
65% Anchor
35% Small Shop
Proven Tenant Retention
Weighted average tenure of 30 years driven predominately by anchor tenants Home Depot, Marc’s, and AMC
Minimal Landlord Capital Requirements
Both Home Depot and AMC replaced roof recently