5768 Andrews Rd, Mentor-on-the-Lake, OH 44060

Property Details for 5768 Andrews Rd

Year built

2024

Lot size

1.22 lot acres

Property type

Retail properties & Spaces

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a brand-new, 10,640 square foot Dollar General store in Mentor-on-the-Lake, Ohio. Built in 2024, this single-story building sits on a 1.22-acre lot in a high-traffic location, boasting over 6,020 vehicles per day. The property features a 15-year absolute NNN lease with a credit-rated corporate guarantee from Dollar General, a Fortune 500 company, ensuring a stable and passive income stream. The lease commenced January 31, 2024, and includes five, 5-year options with 10% rent bumps. The current Net Operating Income (NOI) is $127,000, yielding a 6.75% cap rate. The property's strategic location within a densely populated area, combined with the strength of the Dollar General brand and the long-term lease, makes this an attractive investment for those seeking a secure and high-return opportunity. The property is zoned commercial and enjoys 100% occupancy. This is a fee-simple ownership opportunity with minimal landlord responsibilities. The substantial remaining lease term of 14.2 years provides long-term financial security. The building was constructed to Dollar General's specifications, maximizing efficiency and sales potential. The location is easily accessible on a major retail corridor, serving a population of over 200,000 residents within a 10-mile radius, with an average household income exceeding $81,000. This property offers a compelling combination of strong tenant, favorable lease terms, and a prime location, making it an ideal addition to any investment portfolio.

Location Insight

City

Mentor-on-the-Lake

County

Lake

State

Ohio

Longitude

-81.3622

Latitude

41.7151