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Dollar General (Cleveland MSA)

4830 N Ridge Rd E, Geneva, OH 44041

Listing Price: $1,826,000

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
15.3
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.53

Investment Overview

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL • Brand new 9,100 SF Dollar General located in Geneva, OH (Cleveland MSA). • This store is currently being built, has upgraded construction, and is scheduled for delivery in August 2021. CLEVELAND MSA • The subject property is 45 miles Northeast of Cleveland off of Interstate 90 (38,249 VPD). • Cleveland has a population of 385,525, making it the 2nd largest city in Ohio and the 51st largest city in the United States. Cleveland is also the county seat of Cuyahoga County. • Cleveland is a manufacturing center due to its location on the southern shore of Lake Erie and connects many canals and railroad lines. Cleveland’s other economic drivers include financial services, healthcare, and biomedicals. • 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. INTERSTATE LOCATION • This Dollar General is located 3 Miles from I-90 (38,249 VPD) on Hwy 20 (8,045 VPD). Interstate 90 is an east–west transcontinental freeway and the longest Interstate Highway in the United States at 3,020.44 miles. • 5 miles from Lake Erie. Lake Erie attracts around 11 million visitors each year. • Surrounding national retailers includes AutoZone, Circle K, KFC, Dominos and more. • There are multiple schools within 2 miles of this Dollar General including: Geneva High School (659 Students), Geneva Middle School (670 Students), Spencer Platt Elementary (459 Students) and more. NEW 15 YEAR CORPORATE NNN LEASE • Brand new 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 four, 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 17,266 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 Aug 2021
  • Interstate Location 38,249 VPD
  • Cleveland MSA | 2nd Largest City In OH
  • 15-Year NNN Lease
  • Investment Grade Tenant | 17,266 + Locations

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Discount

Dollar General (Cleveland MSA)

Listing Price: $1,826,000

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
15.3
Guarantor
Corporate Guarantee
Rentable SF
9,100
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.53

Investment Highlights

  • New Upgraded Construction | Delivery Aug 2021
  • Interstate Location 38,249 VPD
  • Cleveland MSA | 2nd Largest City In OH
  • 15-Year NNN Lease
  • Investment Grade Tenant | 17,266 + Locations

Investment Overview

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL • Brand new 9,100 SF Dollar General located in Geneva, OH (Cleveland MSA). • This store is currently being built, has upgraded construction, and is scheduled for delivery in August 2021. CLEVELAND MSA • The subject property is 45 miles Northeast of Cleveland off of Interstate 90 (38,249 VPD). • Cleveland has a population of 385,525, making it the 2nd largest city in Ohio and the 51st largest city in the United States. Cleveland is also the county seat of Cuyahoga County. • Cleveland is a manufacturing center due to its location on the southern shore of Lake Erie and connects many canals and railroad lines. Cleveland’s other economic drivers include financial services, healthcare, and biomedicals. • 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. INTERSTATE LOCATION • This Dollar General is located 3 Miles from I-90 (38,249 VPD) on Hwy 20 (8,045 VPD). Interstate 90 is an east–west transcontinental freeway and the longest Interstate Highway in the United States at 3,020.44 miles. • 5 miles from Lake Erie. Lake Erie attracts around 11 million visitors each year. • Surrounding national retailers includes AutoZone, Circle K, KFC, Dominos and more. • There are multiple schools within 2 miles of this Dollar General including: Geneva High School (659 Students), Geneva Middle School (670 Students), Spencer Platt Elementary (459 Students) and more. NEW 15 YEAR CORPORATE NNN LEASE • Brand new 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 four, 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 17,266 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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