Freestanding Family Dollar Store
For Lease
$1,863,125
401 Lake Avenue, Elyria, OH 44035
Family Dollar store in Elyria, OH with NN lease.
Space SizeContact for details
Days on Market231
Property Features for 401 Lake Avenue
General Information
Standard status
Active
Property subtype
Retail
Net Operating Income
$149,050
Building Details
Year Built
2011
Listed By:
Christian Hain
(248) 419-3630
Source:
Fortisnetlease
Added: Jan 27
Changed: Sep 6
Last Checked: Sep 14 at 10:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Christian Hain
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Family Dollar
Shops & Services
6,278 visits/mo
0.0 miles
Sunoco
Shops & Services
4,561 visits/mo
0.2 miles
Marathon
Shops & Services
3,016 visits/mo
0.4 miles
SUBWAY
Dining
1,722 visits/mo
0.2 miles
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
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 Avenue Elyria, OH.
What is the lease rate?
The lease rate is $1,863,125.
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.
