120 Main St Geneva, OH 44041-1349

Property Details for 120 Main St

Year built

1990

Construction

METAL FRAME

Lot size

0.25 lot acres

Property size

6,888 SF

Property type

Outlet malls

APN

20-012-00-065-00

APU

200120006500

Description

This exceptional investment opportunity presents a 7,012 square foot Family Dollar store located at 120 E Main Street, Geneva, OH 44041. The property boasts a strong 9.73% cap rate and a long-term lease with Family Dollar, a subsidiary of Dollar Tree, Inc. (NYSE: DLTR), a publicly traded company with a significant national presence and strong credit ratings (BBB - S&P; Baa2 - Moody's). The lease, originally commenced in May 1990, has a remaining term of approximately 3.1 years, with one 5-year option period remaining. Rent increases are fixed at approximately 3.75% during option periods, offering inflation protection. The property sits on a 0.83-acre lot and benefits from additional rent based on a percentage of gross sales exceeding $1,705,680. This strategically located property is situated on Geneva's main retail corridor, alongside other national retailers such as CVS, Ace Hardware, Domino's, U.S. Bank, and Circle K. Geneva, Ohio, is a thriving community in Northeast Ohio, just 4.5 miles from Lake Erie, serving a population of 20,000 within a 5-mile radius, with a median household income of $43,345. The asking price is $395,000, representing a price per square foot of $56.33. The property's Net Operating Income (NOI) is $38,426, reflecting a stable and attractive income stream. This is a rare opportunity to acquire a well-located, corporate-guaranteed retail property with a proven track record and significant upside potential. The property's original construction in 1990 as a build-to-suit for Family Dollar demonstrates the tenant's long-term commitment to the site.