5617 Memphis ave - Freestanding FOR SALE
Cleveland, OH 44144 |
5617 Memphis ave
Cleveland, OH 44144
HIGHLIGHTS
- List price of $1,851,852 yielding a 6.75% cap rate
- 15 year lease with over ±14.25 years remaining on the primary term containing five, 5-year options with 10% rental increases
- 2023 upgraded brick, built-to-suit construction for Dollar General
- Absolute NNN lease with zero landlord responsibilities, ideal for investors seeking a passive stream of cash flow
- Strong retail synergy with neighboring tenants including but not limited to: McDonald’s, Dairy Queen, O’Reilly Auto Parts, Marathon Gas, Midas, & more
- Strong Corporate Guaranty: from Dollar General Corporation, a Fortune 500 company, boasting a BBB credit rating (S&P) and a $28 billion market cap
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
DOLLAR GENERAL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Storefront
TOTAL BUILDING SIZE
7545
STORIES
1
YEAR BUILT
2023
SPRINKLERS
-
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
013-25-119
