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Dollar General (Cleveland MSA)

5510 Warrensville Center Rd, Maple Heights, OH 44137

Listing Price: $2,053,000

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.84

Investment Overview

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL • Brand new 9,100 SF Dollar General located in Maple Heights, OH. • This store is currently being built, has upgraded construction and is scheduled for delivery in July 2021. CLEVELAND MSA • Maple Heights is a Cleveland suburb and part of the Cleveland MSA. • The subject property is 14 miles South of Cleveland and a mile off of Interstate 480 (28,549 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 183,951 • This Dollar General is located a mile off I-480 (28,549 VPD) near a signalized intersection on Warrensville Road (20,966 VPD). • Surrounding national retailers include ALDI, McDonald’s, Save A Lot, Advance Auto Parts and more. • The 5-mile population of this store is 183,951 which is superior to most Dollar General locations. NEW 15-YEAR NN CORPORATE LEASE • Brand new 15-year corporate guaranteed NN lease with Dollar General with 10% rent increases during four, 5-year option periods. • Minimal landlord responsibility for roof, structure, and parking lot. Tenant pays $300 per month for parking area maintenance. • Tenant is responsible for taxes, insurance, utilities and HVAC. 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 17,000 locations and expanding by 1,000 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

  • New Upgraded Construction | Delivery July 2021
  • Cleveland MSA
  • 5-Mile Population 183,951
  • 15-Year Corporate Lease
  • Investment Grade Tenant | 17,000 + Locations

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $2,053,000

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.84

Investment Highlights

  • New Upgraded Construction | Delivery July 2021
  • Cleveland MSA
  • 5-Mile Population 183,951
  • 15-Year Corporate Lease
  • Investment Grade Tenant | 17,000 + Locations

Investment Overview

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL • Brand new 9,100 SF Dollar General located in Maple Heights, OH. • This store is currently being built, has upgraded construction and is scheduled for delivery in July 2021. CLEVELAND MSA • Maple Heights is a Cleveland suburb and part of the Cleveland MSA. • The subject property is 14 miles South of Cleveland and a mile off of Interstate 480 (28,549 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 183,951 • This Dollar General is located a mile off I-480 (28,549 VPD) near a signalized intersection on Warrensville Road (20,966 VPD). • Surrounding national retailers include ALDI, McDonald’s, Save A Lot, Advance Auto Parts and more. • The 5-mile population of this store is 183,951 which is superior to most Dollar General locations. NEW 15-YEAR NN CORPORATE LEASE • Brand new 15-year corporate guaranteed NN lease with Dollar General with 10% rent increases during four, 5-year option periods. • Minimal landlord responsibility for roof, structure, and parking lot. Tenant pays $300 per month for parking area maintenance. • Tenant is responsible for taxes, insurance, utilities and HVAC. 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 17,000 locations and expanding by 1,000 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

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