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NN Dollar General Investment Sale 3070 Mayfield Rd 8,333 SF Retail Building Cleveland Heights, OH 44118 $1,228,000 ($147.37/SF) 7.45% Cap Rate
Investment Highlights
- Priced below replacement cost
- Highly dense market with 149,859 people in a 3-mile radius with average household incomes of $86,035
- Minutes from University Circle, Cleveland’s “Eds & Meds” district consisting of Cleveland Clinic Main Campus, Case Western Reserve, & UH Cleveland Med
- The store is an 8,333 SF freestanding building on 0.82 AC with access to the traffic light
- Located directly across from Cleveland Heights rec center, minutes from walkable areas, including Cedar Lee, Cedar-Fairmount, Coventry, University Cir
Executive Summary
• 7+ years remaining on the initial lease term, initial term expiring in September 2033, 2 5-year options with 10% increases per option, through 2043
• This is a NN lease structure, landlord is responsible for roof and structure, as well as initial HVAC replacement. Once HVAC is replaced, Tenant is responsible for all future repairs and maintenance
• This is a NN lease structure, landlord is responsible for roof and structure, as well as initial HVAC replacement. Once HVAC is replaced, Tenant is responsible for all future repairs and maintenance
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,333 SF
Building Class
B
Year Built
2011
Price
$1,228,000
Price Per SF
$147.37
Cap Rate
7.45%
NOI
$91,520
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.82 AC
Zoning
C2 - Commercial
Parking
23 Spaces (2.76 Spaces per 1,000 SF Leased)
Frontage
151’ on Mayfield Rd
Amenities
- Signalized Intersection
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
70/100
Nearby Major Retailers
1 of 7
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NN Dollar General Investment Sale | 3070 Mayfield Rd
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