3070 Mayfield Rd Cleveland Heights, OH 44118

This property features a brand new, retrofitted Dollar General construction completed in 2023. A new 10-year lease commenced on September 13, 2023, and extends to September 30, 2033. The building has an upgraded facade with wrap-around construction and a new roof, lot, and HVAC units installed in 2023. The NN+ lease structure limits landlord responsibilities to the replacement of the roof, lot, and structure. Dollar General Corporation has an investment-grade credit rating of BBB and is a Fortune 500 company with a market capitalization of approximately $25 billion. The property is located approximately 6.50 miles from downtown Cleveland, with over 340,000 residents within a 5-mile radius and an above-average household income of over $64,000 for the MSA. The new 10-year lease includes two 5-year options with 10% rental increases. The property is adjacent to a hard, signalized corner with over 140 feet of frontage on Mayfield Road and exposure to over 11,000 vehicles per day. The lease provides additional security and the opportunity to increase cash flow at the end of the lease term.