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Dollar General (Cleveland MSA)

9736 Columbia Rd, Olmsted Falls, OH 44138

Listing Price: $2,224,000

Cap Rate
4.70%
Tenant Name
Dollar General
Years Remaining On Lease
13.4
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.49

Investment Overview

2020 UPGRADED CONSTRUCTION DOLLAR GENERAL • The subject property is a 9,100 SF Dollar General with upgraded construction located in Olmsted Falls, OH. • The store was built in 2020 and sits on 1 AC of land. CLEVELAND MSA • Olmsted Falls is an affluent Cleveland suburb and part of the Cleveland MSA. • The subject property is 18 miles Southwest of Downtown Cleveland directly off Interstate 80 (40,299 VPD). • Cleveland has a population of 385,525, making it the 2nd largest city in Ohio and is the county seat of Cuyahoga County. • Cleveland is home to the Rock and Roll Hall of Fame and the Playhouse Square Center, which is the second-largest performing arts center in the United States. • Home to multiple professional sports teams including the NFL’s Cleveland Browns, the NBA’s Cleveland Cavaliers, and the MLB’s Cleveland Indians. 5-MILE POPULATION 99,595 • This Dollar General is located directly off I-80 (40,299 VPD) on Columbia Road (8,511 VPD). • The 5-mile population is 99,595 which is far superior to most Dollar General locations. • The 5-mile Average Household Income is over $91,000. • The property is only 6 miles from Cleveland Hopkins International Airport which serves over 10 million passengers annually. 13.5-YEAR CORPORATE NNN LEASE • There are 13.5 years remaining on an original 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the five, 5-year option periods. INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 18,200 locations and expanding by 1,050 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.

Investment Highlights

  • 2020 Upgraded Dollar General
  • Cleveland MSA 2nd Largest City In OH
  • 5 Mile Population 99,595
  • 13.5 Year Coroporate NNN Lease
  • Investment Grade Tenant | 18,000 + Locations

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Discount

Dollar General (Cleveland MSA)

Listing Price: $2,224,000

Cap Rate
4.70%
Tenant Name
Dollar General
Years Remaining On Lease
13.4
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.49

Investment Highlights

  • 2020 Upgraded Dollar General
  • Cleveland MSA 2nd Largest City In OH
  • 5 Mile Population 99,595
  • 13.5 Year Coroporate NNN Lease
  • Investment Grade Tenant | 18,000 + Locations

Investment Overview

2020 UPGRADED CONSTRUCTION DOLLAR GENERAL • The subject property is a 9,100 SF Dollar General with upgraded construction located in Olmsted Falls, OH. • The store was built in 2020 and sits on 1 AC of land. CLEVELAND MSA • Olmsted Falls is an affluent Cleveland suburb and part of the Cleveland MSA. • The subject property is 18 miles Southwest of Downtown Cleveland directly off Interstate 80 (40,299 VPD). • Cleveland has a population of 385,525, making it the 2nd largest city in Ohio and is the county seat of Cuyahoga County. • Cleveland is home to the Rock and Roll Hall of Fame and the Playhouse Square Center, which is the second-largest performing arts center in the United States. • Home to multiple professional sports teams including the NFL’s Cleveland Browns, the NBA’s Cleveland Cavaliers, and the MLB’s Cleveland Indians. 5-MILE POPULATION 99,595 • This Dollar General is located directly off I-80 (40,299 VPD) on Columbia Road (8,511 VPD). • The 5-mile population is 99,595 which is far superior to most Dollar General locations. • The 5-mile Average Household Income is over $91,000. • The property is only 6 miles from Cleveland Hopkins International Airport which serves over 10 million passengers annually. 13.5-YEAR CORPORATE NNN LEASE • There are 13.5 years remaining on an original 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the five, 5-year option periods. INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 18,200 locations and expanding by 1,050 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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