For Sale
$395,000

120 Main StGeneva, OH 44041

Geneva, OH Retail Property - 9.73% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • $395,000 asking price for a 7,012 SF Family Dollar store in Geneva, OH.
  • 9.73% cap rate with a strong NOI of $38,426.
  • 3.1 years remaining on the lease, with one 5-year option, and approximately 3.75% rent increases at each option period.
  • Corporate guarantee from Dollar Tree, Inc. (NYSE: DLTR), rated BBB (S&P) and Baa2 (Moody's).
  • Located on a primary retail corridor with strong national co-tenancy.
  • Excellent location in Northeast Ohio, near Lake Erie, serving a population of 20,000 within a 5-mile radius.

Property Details for 120 Main St

Property type
Lifestyle centers, Power centers
Square Feet
7,012 SF
Year Built
1990
Lot Size (sq. ft)
36,155 SF

Location Insight

City
Geneva
County
Ashtabula
State
Ohio
Latitude
41.8058271
Longitude
-80.9450075
120 Main St, Geneva, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
120 Main St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message