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First National Realty Partners Acquires Grocery Center In South Euclid For $14.8M

Property Image
SOLD
$14,800,000

Ohio

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Retail63,317 SF
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SOLD

First National Realty Partners Acquires Grocery Center In South Euclid For $14.8M

4519 Mayfield Road

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Retail63,317 SF
Sold
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Summary

OHIO
Asset Type:Retail
Price Per Square Foot:$233
Total Square Footage:63317 SF
Transaction Type:Sale

The Marc’s Grocery Center, located at 4519 Mayfield Road in South Euclid, Ohio, encompasses 63,317 square feet of retail space on a 7.6-acre lot. The property was sold for $14.8 million, equating to a price per square foot of $234, and is currently 94% leased to tenants such as Marc’s Grocery, Starbucks, and AT&T.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $14,800,000
  • Sale Date: 03/11/2026
  • Asset Size: 63,317 SF
  • Price Per Square Foot: $234
  • Broker: Erin Patton - Institutional Property Advisors - Marcus & Millichap
  • Buyer: First National Realty Partners
  • Seller: DeVille Developments
  • Market: South Euclid, OH
  • Lot Size: 7.6 acres

Erin Patton from Institutional Property Advisors, a division of Marcus & Millichap, represented the transaction in this deal between the buyer, First National Realty Partners, and the seller, DeVille Developments, who previously redeveloped the property.

Players

Erin Patton
19 deals$189.7M volume
BROKER

First National Realty Partners
BUYER

Details

SOLD
IMAGE: 03/11/2026 ADDRESS: 4519 Mayfield Road MARKET: South Euclid, OH ASSET TYPE: Retail ~ ACRES: 7.6 BUYER: First National Realty Partners SELLER: DeVille Developments BROKER: Erin Patton - Institutional Property Advisors - Marcus & Millichap SALE PRICE: $14,800,000 SF: 63,317 ~ PPSF: $234 NOTE: First National Realty Partners purchased the 63,317-square-foot Marc’s Grocery Center in South Euclid, Ohio, for $14.8 million, with Marcus & Millichap Institutional Property Advisors brokering the deal. The grocery-anchored retail center, 94% leased to tenants including Marc’s Grocery, Starbucks, and AT&T, sits on 7.6 acres near Cleveland and was previously redeveloped by DeVille Developments

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$789,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$52,581.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,159.55
Annual Debt Service$841,914.61