Map of Property

Family Dollar

For Sale

401 Lake Avenue, Elyria, OH 44035

This Elyria property for sale is located at 401 Lake Avenue. The current listed sale price for Family Dollar is $1,863,125. Family Dollar is situated on a lot that is 0.6 acre in size.

Contacts

broker

Christian Hain

Fortis Net Lease

Property Details

  • Property Type Retail - Freestanding
  • Property Size 8,320 SF
  • Lot Size 0.6 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Year Built 2011
  • Year Renovated 2011
  • Date Updated Jun 10, 2024
Elyria OH,Fortis Net Lease is pleased to present this 8,320 SF freestanding Family Dollar Store located in Elyria, OH. The property offers a Double Net (NN) lease, leaving minimal landlord responsibilities. There are over Four years of term remaining on the lease with Four, 5-Year renewal options remaining each with a 10% rental rate increase. The lease is corporately guaranteed by Family Dollar which holds a credit rating of "BBB", which is classified as investment grade. The Store has been operating successfully since 2012. This Family Dollar property is highly visible as it is strategically positioned at the intersection of Lake Avenue and Gateway Blvd N which sees over 18,050 Cars Per Day. The Five Mile Population from the site is 108,000+ residents while the Five Mile Average Household Income is $64,690, making this location ideal for a Dollar Store. The subject offering represents an ideal opportunity for a 1031 exchange buyer or "passive" investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and proven profitability of the tenant. One of the Nation's top Dollar Stores.

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Highlights

  • NN Lease Structure | Minimal Landlord Responsibilities.
  • 4, 5-Year Options
  • 10% Rent Increases at Each Option
  • Highly Visible 18,050 Cars Per Day
  • 5-Mile Average Household Income of $64,690
  • 5-Mile Population of over 108,000 Residents

Getting around

  • 54/100

    Walk Score ®

  • 52/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Elyria, OH
  • Zip Code 44035
  • Market Cleveland Akron

Points of Interest

  • Elyria

    1.17 miles

  • Speedway

    0.63 miles

  • Shell

    0.67 miles

  • Sunoco Food Mart

    1.09 miles

  • GetGo

    1.65 miles

  • Sunoco

    3.06 miles

  • Sheetz

    3.50 miles

  • Animal Clinic Northview Parking Lot

    4.93 miles

  • RV Parking

    5.39 miles

  • Library Parking Lot

    5.40 miles

  • Car Parking

    5.40 miles

  • Truck Parking

    5.41 miles

  • Bus Parking

    5.45 miles

  • McDonald's

    0.66 miles

  • Burger King

    0.66 miles

  • Taco Bell

    0.70 miles

  • Foundry Kitchen & Bar

    0.71 miles

  • Mr. Hero

    0.73 miles

  • Hanini Subs

    0.86 miles

  • Pasquale's Pasta House

    0.89 miles

  • Little Caesars

    1.02 miles

  • Texas Roadhouse

    1.13 miles

  • Subway

    1.21 miles

  • Target

    1.03 miles

  • Giant Eagle

    1.09 miles

  • Save-A-Lot

    1.29 miles

  • Dale's Market & Deli

    1.63 miles

  • Marc's

    1.73 miles

  • Apples

    2.08 miles

  • ALDI

    2.15 miles

  • Big Lots

    2.27 miles

  • Walmart Supercenter

    3.14 miles

  • Burlington

    3.64 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Christian Hain

Fortis Net Lease