SALE PRICE: $1,603,672
CAP RATE: 6.40%
- VISIBLE RETAIL LOCATION — Adjacent to West Geauga Plaza (anchored by Giant Eagle Supermarket). The town center of Chesterland is located at the nearby intersection of U.S. Rte. 322 and SR-306 (Chillicothe Road). The commercial district of Chesterland spans out from this intersection in all directions.
- QUALITY INVESTMENT — ABSOLUTE NNN — Long-term lease with zero landlord responsibilities & fixed 10% increases in each of the 4 options to extend.
- ESTABLISHED, RECOGNIZED TENANT — Dollar General has 13,000 convenient, easy-to-shop stores in 43 states delivering everyday low prices on name-brand products. Net sales increased 5.8% to $5.39 billion for 2Q2016.
- ACCESSIBLE TRADE AREA — Over 24,500 people, with an average household income of nearly $115K, within five miles of the property. Chesterland is less than 30 miles east of Cleveland (2nd largest city in OH), & nearby I-271 provides quick access to I-90, a transcontintental freeway & the longest interstate highway in the U.S.
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