3787 Pearl RdCleveland, OH 44109

Property Details for 3787 Pearl Rd

Year built

1994

Construction

TYPE NOT SPECIFIED

Lot size

2.00 AC

Property size (Sq ft)

14,860 SF

Zone code

LR

Property type

Retail properties

Property subtype

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.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4519

Longitude

-81.7009

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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