Listed by CBRE - Cleveland
$1,228,000
NN Dollar General Investment Sale
Details
Property Type Retail
Sub Type Storefront
Square Footage 8,333
Cap Rate 7.45%
Occupancy 100%
Tenancy Single
Lease Type NN
Remaining Term 7
Price per SqFt $147
Acreage 0.820
Investment Type Net Lease
Ground Lease No
7+ Years remaining on Initial Lease Term
Investment highlights
- Priced below replacement cost
- 7+ years remaining on the initial lease term, initial term expiring in September 2033, 2 5 year options with 10% increases per option, through 2043
- This is a NN lease structure, landlord is responsible for roof and structure, as well as initial HVAC replacement. Once HVAC is replaced, Tenant is responsible for all future repairs and maintenance.
- The store is a 8,333 SF freestanding building on 0.82 AC with access to the traffic light
- Highly dense market with 149,859 people in a 3 mile radius with average household incomes of $86,035
- Cleveland Heights is a high barrier entry market with strong residential housing demand fueled by its appeal to professionals working in University Circle, Case Western Reserve University, and downtown Cleveland.
- Located directly across from Cleveland Heights rec center, and minutes from walkable areas, including Cedar Lee, Cedar-Fairmount, Coventry, University Circle and more
- Minutes from University Circle, Cleveland’s “Eds & Meds” district consisting of Cleveland Clinic Main Campus, Case Western Reserve (12,266 total students), and UH Cleveland Medical Center.
Listing Contacts
Listed by CBRE - Cleveland
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Zoning
C2 CommercialRetail CommercialRetail District
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