Dollar General

Dollar General

10548 Northfield Road
Northfield (Cleveland MSA), OH

Price: $1,860,000
Cap: 6.25%
NOI: $116,244
Building Size: 10,542 SF
Lot Size: 1.20 AC

Investment Highlights

NEW RELOCATION STORE
• Brand New 10,542 SF Build-to-Suit Dollar General in Northfield (Cleveland MSA), OH.
• This is a relocation store that is under construction and is scheduled for delivery August 2020.

LOCATED NEAR TWO INTERSTATES
• The subject property is located off Hwy 8 (20,004 VPD) less than one mile from I-271 (71,893 VPD) and I-480 (113,466 VPD).
• The 5-mile population is 103,722 and average household income is $83,456, which is superior to most Dollar General locations.
• Located in an affluent residential and industrial area. Surrounding national retailers include Goodwill, Sam’s Club, Walmart, Target, Midas, McDonald’s, Wendy’s and more.
• Surrounding tourist attractions include Pitluk Preserve, Bedford Reservation, Sagamore Hills Property and more.
• This location is seconds away from MGM Northfield Park Casino, which is the busiest gaming facility in Ohio.

CLEVELAND MSA
• Cleveland has a population of 385,525, making it the 2nd largest city in Ohio and the 51st largest city in the U.S.
• Greater Cleveland is ranked as the 33rd-largest metropolitan area in the U.S., with 2,057,009 people in 2018.
• Cleveland is a manufacturing center due to its location on the southern shoe of Lake Erie. The city’s other economic drivers include financial services, healthcare and biomedicals.
• Cleveland is home to the Rock & Roll Hall of Fame and the Playhouse Square Center, which is the second-largest performing arts center in the U.S.

LONG TERM CORPORATE NNN LEASE
• Brand new 15-year corporate guaranteed lease with Dollar General.
• Tenant 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure.
• 10% rent increase in each of the five, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company and is BBB investment grade rated.
• Currently over 15,839 locations in 45 states and 975 new locations scheduled to open in 2020.
• Dollar General has been in business for 80 years and has a current net worth of over $6 billion.

Don McMinn
OFFERING MEMORANDUM

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