Details

Value Add Multi-Tenant Dollar General Opportunity

22530 Lake Shore Blvd, Euclid, OH

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hIGHLIGHTS

Size:11,494 SF

Price:$965,000.00

CAP RATE:10.25%

NOI:$99,000.00

PROPERTY
OVERVIEw

DETAILS

• 11,494 SF building
• Anchored by Dollar General, reported sales have surpassed $1.4M over the last 3 years
• Multiple extensions executed by each tenant showing their commitment to this property
• Acceptance Insurance recently extended for 2 more years
• Strong recession resistant co-tenancy makeup
• Landlord responsibilities limited with reimbursements and CAM contributions
• Landlord recently added rubber roof with 10 year warranty
• Dollar General recently paid for new HVAC units

InCommercial Property Group is pleased to offer the opportunity to acquire a multi-tenant investment property in Euclid, OH anchored by Dollar General. Euclid is situated along Lake Erie and is regarded as a suburb of Cleveland, just ten miles northeast. This is an excellent opportunity to add value through leasing the vacant space. The Dollar General anchored property has co-tenants of recession resistant State Farm and Acceptance Insurance. Acceptance Insurance recently exercised an extension for two more years. Dollar General pays landlord a fixed contribution to cover real estate taxes, CAM and insurance. They have executed two early renewals showing their commitment to this property. State Farm pays a CAM contribution while Acceptance Insurance is on a NNN lease.

Broker of Record: Brian Brockman | Bang Realty, Inc. | License # 701472

Location

Contact

Michael Mintz

Vice President, Brokerage

(847) 648-1717

MMintz@InCommercialRE.com

Brian Brockman

Bang Realty (License #701472)

(312) 243-0100

info@incommercialre.com