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401 Lake Ave Elyria, OH 44035

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For Lease
$1,863,125

Family Dollar store in Elyria, OH with NN lease.

Building Details

Year built
2011

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Listing Contact
Christian Hain
Source: Fortisnetlease

Listing Agent: Christian Hain

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Freestanding Family Dollar Store Investment

This 8,320 SF freestanding Family Dollar store is located in Elyria, OH. The property operates under a Double Net (NN) lease, assigning minimal responsibilities to the landlord. The lease has over four years of term remaining, along with four, 5-year renewal options, each including a 10% rental rate increase. The lease is corporately guaranteed by Family Dollar, which holds a credit rating of "BBB", classified as investment grade. The store has been operating successfully since 2012. The property is positioned at the intersection of Lake Avenue and Gateway Blvd N, with a traffic volume of over 18,050 cars per day. The surrounding area within a five-mile radius has a population exceeding 108,000 residents and an average household income of $64,690. This location is suited for a Dollar Store. This property represents an opportunity for a 1031 exchange buyer or passive investor to attain the ownership of a Family Dollar. The investment offers continued success due to the financial strength and profitability of the tenant.
Location Intelligence

Current Use by Public Records

Family Dollar Dollar Store

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Rite Aid Pharmacy, Dilquelle D. Thomas, PharmD, Susan M. Dickerson, RPH, Josephine Ejiofor

Location Insight

  • Map
  • Local Demand
City
Elyria
County
Lorain
State
Ohio
Longitude
-82.11861
Latitude
41.375553

FAQs

What type of property is this?
Drug store - Family Dollar store in Elyria, OH with NN lease.
Where is this drug store located?
The property is located at 401 Lake Ave Elyria, OH.
What are key features of this property?
This property features: - Corporately guaranteed lease by Family Dollar (BBB credit rating - investment grade).; - Double Net (NN) lease structure offers minimal landlord responsibilities.; - High visibility location at a major intersection sees over 18,050 cars per day.
More about this property
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