Dollar General | 20+ Yr Tenancy | 4+ Acres | Cincinnati, OH
Dollar General | 20+ Year Occupancy | High Quality Construction | 11,114 SF - 4.17 Acres
Marketing description
Legacy Real Estate Advisors is pleased to present this high quality construction Dollar General on an oversized 4.17 Acre lot in Cincinnati, OH. This site used to be a former Rite Aid, although Dollar General has occupied this property since 2004. DG has shown their commitment to the site through 20+ years of occupancy and exercising an option in 2022.
The property sits just off a signalized hard corner and has access via Kemper Rd and Hamilton Ave, which experience a combined 38,000+ VPD. Nestled in a dense and affluent corridor with 60,000+ people residing in a 3 mile radius and 143,000+ in a 5 mile radius, with average household incomes of $80,000+ in a 3 and 5 mile, and $98,000+ in the 1 mile radius.
The property has been very well maintained over the years and the landlord installed a brand new roof in 2022. DG is on a modified gross structure lease where LL is responsible for Taxes, Insurance, and CAM. DG reimburses $500/m for CAM. Ownership was in the process of submitting a tax appeal to lower their taxes, but unfortunately their attorney missed the deadline last year. The property is currently assessed at $578,800, translating to a market value of $1.65m. This provides upside for new ownership to lower their tax bill and net more income.
The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade.
Investment highlights
Single Tenant Freestanding Dollar General in Cincinnati, OH
High Traffic Counts - 25,100+ Vehicles Pass Site Per Day on Hamilton Ave
Dense Demographics - 9,500+ People Reside within 1 Mile Radius of Site - 60,400+ People Reside within 3 Mile Radius of Site
Affluent Area - Average Household Income Exceeds $98,000 within 1 Mile Radius of Site
Cincinnati is Ranked the #30 MSA in the US by Population Size Hosting Over 2,250,000 Residents Within the 18 County MSA Spanning OH, KY and IN
Dollar General (NYSE: DG), Ranked #112 on the Fortune 500, Reported Revenues North of $40 Billion for FY2024, Representing a 4.96% Increase Year-Over-Year
Dollar General Holds an Investment Grade Credit Rating of "BBB" With S&P and a Positive/Stable Outlook
Essential Retailer - Internet, Pandemic, and Recession Resistant Tenant
Brand New Roof Installed in 2022 at Tenant's Renewal
Oversized Parcel Consisting of 4.17 Acres
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