3787 Pearl Rd Cleveland, OH 44109-2755
- Grocery and convenience stores
- 14,860 SF
- 2.00 lot acres
Current Use by Public Records
- Family Dollar / Beer Store / Discount Store
Property Details for 3787 Pearl Rd
- Year built
- 1994
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 2.00 lot acres
- Property size
- 14,860 SF
- Zone code
- LR
- Property type
- Grocery and convenience stores
- APN
- 008-24-009
- APU
- 824009
Description
This exceptional investment opportunity presents a 14,860 square foot Family Dollar storefront located at 3787 Pearl Rd, Cleveland, OH 44109. Situated on a 2-acre lot, this property boasts a strong 8.25% cap rate and a favorable NN+ lease with approximately 5.5 years remaining, plus renewal options. The building, originally constructed in 1994, underwent significant renovations in 2016, transforming a former Aldi Supermarket into its current configuration. The property benefits from a prime corner location at Pearl Road & Garden Avenue, offering multiple access points. This single-tenant asset features a low rent per square foot, representing a significant value proposition well below replacement cost. The strong demographics of the densely populated area, just 10 minutes from downtown Cleveland, further enhance its investment appeal. The property's attractive features, combined with the tenant's strong creditworthiness, make this a compelling investment opportunity for discerning buyers. The Cuyahoga County property (APN: 008-24-009) offers a stable income stream and significant potential for long-term growth. This is part of a larger portfolio of Dollar Stores that can be purchased individually or as a portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.7009
- Latitude
- 41.4519
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
