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 size

10,640 SF

Property type

Retail properties

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