A computational multiscale approach combining dispersion-corrected density functional theory (DFT) and long-timescale classical molecular dynamics is employed to characterize the geometrical, mechanical and thermal properties of a recently proposed two-dimensional (2D) transition metal dichalcogenide, NiCl2. A classical interatomic force field is proposed whose parameters are derived from the results of DFT calculations. The developed force field is used to study the mechanical response, thermal stability and melting of a NiCl2 monolayer. It is found that the NiCl2 sheet is thermally stable up to the melting point temperature of 1315 K. At higher temperatures structural degradation of the system is observed, which involves several subsequent structural transformations, namely the formation of a highly porous 2D sheet, 1D nanowires, and nanodroplets. The computational methodology presented through an illustrative case study of NiCl2 can be utilized for the computational characterization of other novel 2D materials, including recently synthesized NiO2, NiS2 and NiSe2.