Dollar General

Dollar General

3170 East 91st St
Cleveland, OH

Price: $1,589,000
Cap: 6.25%
NOI: $99,287
Building Size: 9,002 SF
Lot Size: 1.78 AC

Investment Highlights

BRAND NEW CONSTRUCTION STORE
• Brand new 9,002 SF build-to-suit Dollar General in Cleveland, OH.
• This store is currently under construction and scheduled for delivery in June 2019. 

CLEVELAND MSA
• Cleveland has a population of 388,072, 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 2nd largest performing arts center in the United States.

ATTRACTIVE DEMOGRAPHICS
• 5-mile population is 342,555, which is superior to the usual Dollar General location.

PRIME METRO LOCATION
• 2.4M SF of retail within 2-mile radius.

• Nearby retailers include: ALDI, McDonald's, Walgreens, CVS and more.
• Subject proeprty is 2.6 miles from I-77 (97,229 VPD) and 2.4 miles from I-490 (36,179 VPD).

LONG TERM CORPORATE NNN LEASE
• B
rand new 15-year corporate guaranteed lease with Dollar General.
• Tenant is 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure.
• 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 and currently holds an investment grade credit rating of BBB with S&P.
• There are currently over 15,000 locations in 45 states and 975 new locations expected to be opened this year.
• Dollar General has been in business for 79 years and has a current net worth of over $6B.

Don McMinn
OFFERING MEMORANDUM

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