Description

GEORGETOWN SQUARE is a fully occupied retail center at 7554 Pearl Road in Middleburg Heights, OH. Its 21,836 SF of gross leasable area gives an investor an established shopping center anchored by Pet Supplies Plus, with restaurants, retailers, and service businesses alongside it.

Built in 1990 on 2.6 acres, the Property has 80 parking spaces and multiple access points along Pearl Road and Fowles Road. Pet Supplies Plus has occupied the center for 33 years; OneMain Financial, Jet’s Pizza, and Red Wing Shoes also have long-standing tenancies. More than 70% of the gross leasable area is leased to national tenants. That mix connects everyday shopping and services with dining, giving customers several reasons to visit the center.

The signalized intersection of Pearl Road and Bagley Road puts Georgetown Square in view of passing traffic and gives shoppers a straightforward point of arrival. Pearl Road carries over 27,553 vehicles per day, while access to Interstate 71 connects the location to trips beyond the immediate area. Cleveland Hopkins International Airport is nearby. For a retail owner, the road exposure, access points, and tenant mix work together to keep the center visible and convenient to use.

The asking price is $4,100,000, or $187 PSF, with $303,681 in NOI and a 7.40% cap rate. At 100% occupancy, the acquisition is centered on its existing tenant income rather than a vacancy lease-up. The established tenancies and mix of national and local businesses give a buyer a clear starting point for reviewing the income stream. See the Offering Memorandum and Georgetown Square Flyer for the next look at the Property.