Freestanding Family Dollar Store
401 Lake Avenue Elyria, OH 44035
For Lease
$1,863,125 SF/Yr
Family Dollar store in Elyria, OH with NN lease.
Property Size8,320 SF
Days on Market181
Property Features for 401 Lake Avenue
General Information
- Standard status
- Active
- Size
- 8,320 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2011
Listing Agency:
Fortis Net Lease
(248) 419-3630
Listed By:
Christian Hain · License #6501323470
(248) 419-3630
Source:
Fortisnetlease
Added: Jan 27
Changed: Jul 6
Last Checked: Jul 26 at 5:12AM
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 Fortis Net Lease
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
Property Profile
Location Intelligence
Current Use by Public Records
Family Dollar
Discount Store
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 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.
