Dollar General

Dollar General

38878 Mentor Ave.
Willoughby (Cleveland MSA), OH

Price: $1,672,000
Cap: 6.25%
NOI: $104,466
Building Size: 9,026 SF
Lot Size: 1.09 AC

Investment Highlights

BRAND NEW UPGRADED CONSTRUCTION STORE
• Brand New 9,026 SF Build  to  Suit  Dollar  General  in Willoughby (Cleveland MSA), OH.
• This store has upgraded construction and is scheduled for delivery October 2018.

ATTRACTIVE DEMOGRAPHICS
• 
The 5-Mile average population is 112,444 and the average household income is $74,608 which is superior from typical 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 CSA, 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, and KeyCorp. 
• 
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

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 taxes, CAM, Insurance, roof and structure.
• There are 10-percent rent increases in each of the five, 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 is opening 900 locations this year.
• Dollar General has been in business for 79 years and has a net worth of over $6.1 B. 

Don McMinn
OFFERING MEMORANDUM

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