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Opportunity Zone
Dollar General - Medina, OH
Retail | 6.68% CAP | 10,227 SF
Listing Contacts
License: FL
License: FL 3277603
Active
Asking Price: $1,165,000
Address
795 Lafayette Rd, Medina, OH 44256
Show on MapDate Added
Mar 13, 2024
Days on Market
372 days
Time Since Last Update
99 days
Details
Property TypeRetail
SubtypeGrocery Store
Investment TypeStabilized
ClassB
Lease TypeNN
Tenant CreditCorporate Guarantee
TenancySingle
Brand/TenantDollar General
Lease Expiration05/31/2028
Remaining Term3.2 years
Square Footage10,227
Net Rentable (sq ft)10,227
Price/Sq Ft$113.91
Cap Rate6.68%
Occupancy100%
NOI$77,850
Units1
Year Built2005
Year Renovated2020
Buildings1
Stories1
ZoningC-2
Lot Size (acres)1
Parking (per 1,000 sq ft)2.78
Rent Bumps10% on renewal
Lease Options5 options, 5 years ea
OwnershipFee simple
Marketing Description
Absolutely prime location – over 13,100 vehicles per day use the stop sign directly adjacent to the entrance! As a result, store traffic and sales are historically excellent!
Built to suit for Dollar General Corp, a US Fortune 500 Company in 2005, this location has consistently reported stronger-than-average annual sales compared to other stores nationwide. As such, last corporate lease renewal in 2018 was for 10 years. 5 renewal options with 10% bumps each! 5+ years currently remain on current lease.
Tenant pays: insurance, taxes, internal maintenance, HVAC maintenance and minor repairs. Tenant provides $357/mo. for parking lot maintenance. Actual cost is about $2,000/yr. – so the balance pays all other maintenance and adds about $500-$800/yr. to profit.
Landlord responsible for: Structure, Parking Lot & major HVAC repairs
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$77,850.00
$6,487.50/mo
Valuation Metrics
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0
DSCR
6.68%
Cap Rate
6.68%
ROI
Property History
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Due Diligence
Listing Contacts
- License: FL
- License: FL 3277603
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