Middleburg Heights, OH - WetGo

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate guaranteed WetGo Car Wash investment property located in Middleburg Heights, Ohio (Cleveland MSA). The guarantor, Giant Eagle, Inc., one of the largest privately held supermarket chains in the United States, generates approximately $8.6 billion in annual revenue across 200+ Giant Eagle and Market District supermarkets and pharmacie locations across the region. The property is leased on a 20-year ground lease with approximately 17 years remaining and 10% rental increases every five (5) years, including during the six (5-year) option periods, providing stable and growing income throughout the term. The lease is absolute NNN with zero landlord responsibilities, offering investors a hands-free, management-free investment backed by a strong corporate guarantor. WetGo represents Giant Eagle’s newest express car wash prototype, combining cutting-edge design and automation with brand recognition and customer loyalty throughout the Midwest.

Strategically located on a primary retail corridor at the signalized intersection of Pearl Road (US-42 | 35,820 VPD) and West 130th Street (26,140 VPD), the Property sits directly across from Southland Shopping Center, a dominant regional shopping destination welcoming 9.1 million annual visits (per Placer.ai), anchored by BJ’s Wholesale Club, Giant Eagle, and Marc’s, with additional national tenants including Marshalls, Petco, Crunch Fitness, Five Below, Office Depot/OfficeMax, Dollar Tree, Applebee’s, and Great Clips, among others. It is also adjacent to Pearl Plaza, a newly developed retail center anchored by ALDI, with tenants including Chipotle, Smoothie King, AT&T, and Citizens Bank, as well as a newly constructed *Starbucks and *McAlister’s Deli (*Available for Sale, Speak with Agent for Details), promoting strong crossover shopping traffic to the site. The surrounding trade area is supported by a robust demographic base, with over 227,568 residents and 117,159 employees within a 5-mile radius, and an average household income of $93,867. Nearby demand drivers, including Cuyahoga Community College Western Campus (12,000+ students), further reinforce daytime activity and provide a strong consumer foundation for long-term success.

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