For Sale
$1,244,000

3787 Pearl RdCleveland, OH 44109

High-Yield Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • 14,860 SF Family Dollar single-tenant net lease property in Cleveland, OH.
  • 2016 renovations; previously an Aldi Supermarket.
  • NN+ lease with ~5.5 years remaining, plus five 5-year renewal options.
  • Corner lot at Pearl Rd & Garden Ave with multiple access points.
  • Low rent per square foot; below replacement cost, strong credit tenant.
  • ~14,860 SF building on ~2 acres; strong demographics, 10 minutes from downtown Cleveland.

Property Details for 3787 Pearl Rd

Property type
Lifestyle centers, Power centers
Square Feet
14,860 SF
Year Built/Renovated
1994/2016
Lot Size (sq. ft)
87,120 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.4520941
Longitude
-81.7008258
3787 Pearl Rd, Cleveland, Ohio

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3787 Pearl Rd
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