26180 Chardon Rd
Richmond Heights, OH 44143
Dollar General · Retail Property For Sale

NEW UPGRADED BRICK CONSTRUCTION STORE Brand New 7,498 SF Build to Suit Dollar General in Richmond Heights, OH located at the intersection of Chardon Road (9,766 VPD) and Richmond Road (8,067 VPD) just East of Cleveland. This store is upgraded brick and block construction and is delivering in August 2018. SUPERIOR DEMOGRAPHICS LOCATION The 5-Mile population of this location is 209,274 and the average household income is $61,869 which is superior to most Dollar General locations. CLEVELAND MSA Cleveland is the county seat of Cuyahoga County, the most populous county in the state of Ohio and is part of the larger Cleveland-Akron-Canton Combined Statistical Area, which has a population in excess of 3,500,000 people, and ranked as the country’s 15th largest CSA. Many large public corporations are headquartered in Cleveland including Applied Industrial Technologies, Progressive Insurance, Parker Hannifin, Cliffs Natural Resources, Sherwin-Williams, TravelCenters of America (TA), and KeyCorp. The NASA Glenn Research Center is also located here. Cleveland’s economy has diversified sectors that include manufacturing, financial services, healthcare, and biomedical. There are two dozen four-year universities and colleges located within forty miles of Cleveland. Over 170,000 students are currently enrolled in area four-year institutions, the biggest of which are Kent State, University of Akron, Cleveland State University, and Youngstown State University. Cleveland is home to the Rock and Roll Hall of Fame and attracted over 18 million tourists last year. Cleveland's current major professional sports teams include the Cleveland Indians, Cleveland Browns, and the Cleveland Cavaliers. INVESTMENT GRADE TENANT Dollar General is a publicly traded (NYSE: DG) Fortune 500 company that operates over 14,609 locations nationwide with a net worth of over four billion. Dollar General is opening 900 locations this year and currently holds an investment grade credit rating of BBB-/Stable with S&P. LONG-TERM CORPORATE NNN LEASE The subject property has a brand new 15-year Corporate Guaranteed Lease with Dollar General. The Tenant is 100% responsible for all expenses, including roof, structure, taxes, insurance and common area maintenance. There are 10 percent rent increases in each of the four, 5-year option periods.