Description

A fee-simple, net-leased gas station real estate investment is being offered for sale at 12800 Euclid Avenue in East Cleveland, positioned along one of the Greater Cleveland area’s primary urban commercial corridors. This real-estate-only offering excludes the convenience store and fuel business operations, providing investors with a passive ownership opportunity backed by a net lease structure. The property is leased to an operating fuel and convenience store tenant, generating predictable in-place cash flow with limited landlord responsibilities. The offering includes the land, a 2,075-square-foot convenience store building, fuel canopy, and all permanently affixed fixtures. Originally constructed in 1966 and renovated in 2012, the Class C fire-resistant building features slab construction, a flat composition roof, and forced-air HVAC with packaged air conditioning. The current lease commenced on January 1, 2025, and provides annual base rent of approximately $66,990 under a net lease structure in which the tenant is responsible for taxes, insurance, maintenance, and operational expenses. Additional upside potential exists through signage, ancillary income, or future site-use opportunities that may further enhance returns beyond the in-place NOI. The property is also equipped with three 8,000-gallon fiberglass reinforced plastic underground storage tanks currently in operation and monitored through automatic tank gauging and electronic line leak detection systems. Located along Euclid Avenue, the site benefits from a dense residential population, surrounding multifamily communities, and consistent commuter traffic that support long-term fuel and convenience demand. Offered at an asking price of $950,000, the investment reflects an approximate 7.05% cap rate and a price of roughly $458 per square foot, making it an attractive option for passive investors or buyers seeking a stable 1031 exchange replacement property. In addition, the asset may qualify for accelerated bonus depreciation benefits through a cost segregation strategy, potentially enhancing after-tax cash flow for investors.