10502 Saint Clair Avenue

Highlights:

• Former Rite Aid with favorable zoning, offering flexible development options and strong future potential for buyers.
• Ideally located in the Glenville suburb, just 15 minutes from Downtown Cleveland via I-90, offering outstanding accessibility.
• Demographics are excellent with a population growing exponentially and consumer spending exceeding $2.2 billion within 5 miles.
• Premier corner location at a signalized intersection with over 9,400 vehicles passing daily, providing exceptional visibility and traffic exposure.
• Expansive lot features multiple ingress and egress points, drive-thru, and ample parking enhancing accessibility and maximizing customer convenience.
• Close to many retailers and conveniences, including Dollar General, McDonald’s, Little Caesars Pizza, Subway, and more.

Description:

The former Rite Aid, situated at 10502 St. Clair Avenue, presents an excellent opportunity for both investors and owners/users seeking space in the Cleveland retail landscape. Built in 1998, the 11,316-square-foot retail property is delivered completely vacant. This asset spans 1.55 acres and features a single-story building, offering ample space for various uses and easy access for customers and operations. There are several points for ingress and egress as well as a drive-thru pharmacy window on site. The former Rite Aid features a durable, low-maintenance brick exterior, reducing upkeep costs and providing long-term value for new owners. Once inside, the property is in a build-to-suit condition with deferred maintenance. The asset has advantageous zoning, LR for Local Retail, which will greatly benefit new ownership. LR zoning allows most general retail businesses but restricts certain uses like auto sales, service garages, and industrial activities. This zoning is designed for areas undergoing redevelopment, encouraging retail growth while also maintaining the neighborhood's character. Buyers have several options for the option to rehabilitate the existing on-site structure, or completely redevelop the former Rite Aid for a totally new use.

Cleveland gives investors and owners/users a prime chance to make their mark in this thriving metro hub. Cleveland’s economy has evolved beyond its steel and automotive roots, becoming more diverse and resilient over the past few decades. Healthcare services have a prominent role as one of the city’s largest industries with Cleveland Clinic, University Hospitals, and Metro Health ringing in at some of the region’s top employers. The biomedical and technology sectors also a stronghold aided by HTC (Health-Tech-Corridor). The HTC, launched in 2010, is a 1,600-acre area on the east side of Cleveland, linking Downtown Cleveland to University Circle. Additionally, Cleveland is home to one of the 12 Federal Reserve Banks in the United States. Sherwin-Williams has announced that they will retain their global headquarters in Cleveland. With thousands of employees across the metro, the local demographics are incredible for retail. The local resident counts are on the rise and consumer spending is impressive at $2.2 billion within 5 miles of the former Rite Aid.
The Former Rite Aid is perched in the Glenville neighborhood of Cleveland, a peaceful and lush suburban setting just 6 to 8 miles from Downtown Cleveland. Accessibility is a breeze in this area with Interstate 90 just seconds away. Glenville is an emerging neighborhood experiencing redevelopment and growth. Recent developments include housing, GlenVillage Retail Incubator, and the Glenville Arts Campus.

Take advantage of exceptional visibility and a sought-after destination in the Glenville neighborhood of Cleveland at 10502 St. Clair Avenue.

Property tours are available by appointment only. Please contact the listing broker to schedule.

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