3070 Mayfield RdCleveland Heights, OH 44118

This exceptional investment opportunity presents a fee-simple ownership of a ±8,333 square foot Dollar General store located at 3070 Mayfield Rd, Cleveland Heights, OH 44118. The property, situated on a ±0.82-acre lot with 23 parking spaces, boasts a brand-new 2023 renovation, including a new roof, HVAC units, and facade. The single-tenant building is 100% occupied under a Net Net + (NN+) lease with Dollar General Corporation, a credit-rated, Fortune 500 company, providing significant financial security. The lease commenced September 13, 2023, with a remaining term of 8.9 years and two, five-year renewal options, each including a 10% rent increase. The current annual Net Operating Income (NOI) is $91,520, resulting in a 7.25% cap rate and a price per square foot of $151.49. The property benefits from a high-density market, with over 340,000 residents within a 5-mile radius and an above-average household income exceeding $64,000. Its strategic location on Mayfield Road, a high-traffic area with over 11,000 vehicles per day, provides excellent visibility and accessibility. The asking price is $1,262,345. The property is zoned commercial and was originally built in 2011. This is a stabilized investment with minimal capital expenditures anticipated in the near future. The low rent per square foot of $10.98 offers additional investor security and potential for future cash flow growth.