Dollar General Storefront
3070 Mayfield Road, Cleveland Heights, OH 44118
For Sale
Contact for pricing
NN lease structure includes two renewal options with scheduled increases.
Property Size8,333 SF
Lot Size0.82 Acres
Price / SF$133.09
Days on Market153
Property Features for 3070 Mayfield Road
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Lease Type
Investment Type
Site & Location
Neighborhood
Building Details
Buildings
Tenancy
Listing Agency:
CBRE - Cleveland
Listed By:
Kevin Moss · License OH SAL.2015001299
(216) 363-6453
Source:
Crexi
Added: Jun 15
Changed: Nov 6
Last Checked: Nov 12 at 5:18AM
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 CBRE - Cleveland
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Investment Insights
Based on property information with market context.
Dollar General occupies a freestanding 8,333-square-foot building on 0.82 acres. The NN lease has an initial term ending in September 2033, with two five-year extension options and 10% increases at each option. The landlord is responsible for the roof and structure and for the initial HVAC replacement; the tenant handles subsequent HVAC repairs and maintenance after replacement.
The property has access at a traffic signal and sits across from the Cleveland Heights recreation center. University Circle, Case Western Reserve University, and UH Cleveland Medical Center are among the nearby destinations. The surrounding area also includes the Cedar Lee, Cedar-Fairmount, and Coventry districts, as well as downtown Cleveland.
The property has access at a traffic signal and sits across from the Cleveland Heights recreation center. University Circle, Case Western Reserve University, and UH Cleveland Medical Center are among the nearby destinations. The surrounding area also includes the Cedar Lee, Cedar-Fairmount, and Coventry districts, as well as downtown Cleveland.
Key Highlights
- Dollar General occupies an 8,333‑square‑foot freestanding building on 0.82 acres
- NN lease with initial term ending September 2033
- Two 5‑year options, each with a 10% increase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,059
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,601,180
$1.6M
Cap Rate 7%
$1,143,700
$1.1M
Cap Rate 9%
$889,544
$889.5K
Market Conditions
NOI Build-Up for 8,333 SF
Gross rent
$125.0K $15.00/SF
− Vacancy
−$10.6K −$1.28/SF
EGI
$114.4K $13.73/SF
− OpEx
−$34.3K −$4.12/SF
NOI
$80.1K $9.61/SF
Area
ZIP 44118
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,601,180
Cap Rate 7%
$1,143,700
Cap Rate 9%
$889,544
Alternative Uses
Best Use
Retail
$1.14M
$1.00M – $1.33M
NOI $80,059 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.69M
$1.48M – $1.97M
NOI $118,404 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 44118, OH
40,242
Population
17,849
Households
2.3
Avg Household Size
35
Median Age
61%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
5,749
Density / Sq Mi
$76,328
Median Household Income
$44,837
Median Earnings
$1,195
Median Rent
$205,600
Median Home Value
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Market
Properties on Market for Storefront properties in Cuyahoga County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Diamond's Flowers — 1840 Coventry Rd, Cleveland Heights, OH 44118
- Stems Fleur — 2495 Lee Blvd, Cleveland Heights, OH 44118
Frequently Asked Questions
What type of property is this?
Storefront property - NN lease structure includes two renewal options with scheduled increases.
Where is this storefront property located?
The property is located at 3070 Mayfield Road Cleveland Heights, OH.
What is the asking price?
The asking price for this property is $1,109,000.
What are key features of this property?
This property features: Dollar General occupies an 8,333‑square‑foot freestanding building on 0.82 acres; NN lease with initial term ending September 2033; Two 5‑year options, each with a 10% increase
