Historical Retail Sale Listing - Family Dollar Plaza|100% Occ|Early Tenant Renewals

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Family Dollar Plaza|100% Occ|Early Tenant Renewals

5566 State Road, Parma, OH 44134

N/A

14,659 SF | Retail

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State Hill Plaza

Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
14,659 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Net Lease Investment with
5 years left on lease
Cap Rate:
9.03%
Occupancy:
100%
Tenancy:
Multiple
Year Built:
1992
Lot Size:
1.12 AC
Listing ID
16870521
Last Updated
over 1 year ago

Highlights

  • Historically and Currently 100% Occupied with Long-Term Anchor Tenant (through 2016)
  • Publicly Traded Family Dollar Stores, Inc. (NYSE: FDO) with Corporately Guaranteed Lease
  • Family Dollar Stores, Inc. Reported Record Earnings for 3rd Quarter 2010 - Net Income Increase to $74 Million
  • Directly Across from Large, Busy United States Post Office Drawing Customers to the Plaza
  • Tenants Recently Renewed Lease Early Showing Their Commitment and Presence to the Plaza
  • Alongside High Traffic Roadway in Parma (State Road) - High Traffic Counts (57,800+ VPD)

Description

The State Hill Plaza, located in Parma, Ohio, is a 100% occupied plaza that boasts a strong mix of national and local tenants, including: Family Dollar, $1.99 Video, Parma's Finest Hair, and Breads & Beyond Bakery. Anchor tenant, Family Dollar, is publicly traded (NYSE: FDO) Fortune 500 Company whose growth has remained constant and reports record earnings at the end of the 3rd Quarter, 2010. The company shows a net increase to $74 million ($0.56 per share), compared to $60.1 million ($0.43 per share) in the year ago period. Family Dollar conveniently places their stores in thriving areas, which allows for them to remain the fastest growing discount retailer.

Located less than seven miles from Downtown Cleveland, Ohio, the property is ideally situated in a market that is demographically supportive of the tenants' product offerings and price points. The featured property is located just south of a mojor interstate (I-480), a loop highway that connects I-71, I-77, I-76 and the Ohio Turnpike (I-80) with suburban Cleveland and provides access to Cleveland Hopkins International Airport.

Map of 5566 State Road, Parma, OH 44134 (Cuyahoga County)

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