120 Main StGeneva, OH 44041

Property Details for 120 Main St

Year built

1990

Construction

METAL FRAME

Lot size

0.25 AC

Property size (Sq ft)

6,888 SF

Property type

Retail properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,821,552

  6.5%

  $1,681,432

  7%

  $1,561,330

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,623,645

  Geo Method

  $1,623,645

• Alternative Use

  Use

  Valuation

  Residential

  $1,418,351

  Hospitality

  $1,299,202

  Educational

  $1,080,921

  Medical

  $1,118,095

  Retail

  $1,681,432

Location Insight

City

Geneva

County

Ashtabula

State

Ohio

Latitude

41.806

Longitude

-80.9452

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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