795 Lafayette Rd - Freestanding FOR SALE


Medina, OH 44256
$1,250,000 USD
561-310-0935
795 Lafayette Rd, Medina, OH for Sale
$1,250,000 USD
Freestanding - FOR SALE
1/17
null | 6.23% Cap Rate

795 Lafayette Rd
Medina, OH 44256


HIGHLIGHTS

  • Excellent location!
  • Store currently under corporate-funded renovation!
  • Lease expires 2028, with multiple remaining options for renewal

OVERVIEW

TENANT FUNDED RENOVATION CURRENTLY UNDERWAY Absolutely prime location – over 13,100 vehicles per day use the stop sign directly adjacent to the entrance! As a result, store traffic and sales are historically excellent! Built to suit for Dollar General Corp, a US Fortune 500 Company in 2005, this location has consistently reported stronger-than-average annual sales compared to other stores nationwide. As such, last corporate lease renewal in 2018 was for 10 years. 5 renewal options with 10% bumps each! 5+ years currently remain on current lease. Tenant pays: insurance, taxes, internal maintenance, HVAC maintenance and minor repairs. Tenant provides $357/mo. for parking lot maintenance. Actual cost is about $2,000/yr. – so the balance pays all other maintenance and adds about $500-$800/yr. to profit. Landlord responsible for: Structure, Parking Lot & major HVAC repairs

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$139 USD /SF

CAP RATE

6.23%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-2, Medina City

APN/PARCEL ID

028-19C-08-058

ASK ABOUT THIS PROPERTY

Martin GoldsteinThe Goldstein Group (MRG Associates, LLC)More Info
561-310-0935

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Martin GoldsteinThe Goldstein Group (MRG Associates, LLC)More Info
561-310-0935

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.