Listed by Marcus & Millichap - San Diego
$1,374,000
FAMILY DOLLAR | RECENT LEASE EXTENSION | CLEVELAND INFILL
Details
APN 13013006
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 9,300
Cap Rate 9.25%
NOI $127,050
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree
Lease Type NN
Lease Expiration 06/29/2030
Remaining Term 4.1
Rent Bumps Yes
Class A
Year Built 2006
Year Renovated 2020
Stories 1
Acreage 0.680
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Retail | 9.25% CAP | 9,160 SqFt
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
Investment highlights
- 19+ Year Historical Occupancy. Tenant within 3rd Option Extension Demonstrating a Strong Commitment to the Location. Roof Replaced in 2020 w/ 15 Year Warranty.
- Corporate Backed Lease w/ 15% Increase in Option 1 and 10% Increase at Remaining Options.
- Positioned within Area’s Major Traffic and Retail Corridor. Along Kinsman Rd, a Primary East–West Arterial Connecting Downtown Cleveland. Features Easy Access and Excellent Visibility.
- Extremely Dense Urban Location with over 319k Residents within a 5-Mile Radius, providing a Massive Built-In Customer Base and Sustained Demand for Value-Oriented Retail in this Highly Populated Trade Area.
- Located Under Five Miles From University Hospitals And Case Western Reserve University, Supporting Demand From Staff, Students, And Visitors Requiring Quick, Affordable Shopping Nearby.
- Less Than Three Miles From Downtown Cleveland’s Growing Employment And Entertainment Districts, Enabling Convenient Access For Workers And Residents Seeking Affordable Everyday Necessities.
- Public Transit Access Via Multiple RTA Bus Routes Along Kinsman Rd Within Quarter-Mile Of Site Strengthens Reach Into Surrounding Cleveland, East Cleveland Communities.
- Site is located within the Opportunity Zone - An Investment Program that Offers Tax Incentives through a Qualified Opportunity Fund.
Listing Contacts
Listed by Marcus & Millichap - San Diego
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$127,050.00
$10,587.50/mo
Valuation Metrics
0
DSCR
9.25%
Cap Rate
9.25%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Is there information that looks off?
