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33612447
33612448

7050 Ohio 235, Alger, OH 45812

ED
NY 10410386411
Matthews
Listed by Matthews
$1,925,214
3 days on market
Updated 3 days ago

Dollar General - Alger, OH

Details
APN 28-090021.0000
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food (+1)
Square Footage 10,640
Cap Rate 6.75%
NOI $129,951
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Walgreens (+10)
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 05/31/2041
Remaining Term 15
Rent Bumps Yes
Lease Options Five, 5-Year
Price per SqFt $181
Broker Co-Op True
Year Built 2026
Buildings 1
Stories 1
Acreage 1.370
Zoning Misc. Commercial
Parking Spaces 35 spaces
Parking Per SqFt 3.29
Investment Type Stabilized
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 06/01/2026
Occupancy Date 06/01/2026
Ground Lease No
Ownership Fee Simple

New Construction | 15 Years | Absolute NNN

Investment highlights

● Offered at $1,925,214, this investment delivers an attractive 6.75% cap rate, providing investors with stable and predictable income backed by a nationally recognized tenant.

● Long-Term Lease Security- The property is secured by a brand-new 15-year lease with Dollar General, featuring 5.00% rental increases every five years. In addition, the lease includes five (5) separate 5-year renewal options, offering long-term income durability and built-in growth.

● New Construction, Passive Ownership - Scheduled for delivery in June 2026, this is a built-to-suit development specifically designed for Dollar General’s latest prototype. The asset is subject to an absolute NNN lease, eliminating landlord responsibilities entirely and making it an ideal, management-free investment.

● Modern Store Prototype - The ±10,640 square foot building reflects Dollar General’s current specifications, offering expanded space for consumable goods. This larger format is typically associated with stronger store performance, higher sales volumes, and improved operating margins.

● Creditworthy Tenant - The lease is backed by Dollar General Corporation, a Fortune 500 company with a BBB credit rating from S&P and an approximate $28 billion market capitalization. This strong corporate guaranty provides confidence in long-term rent reliability.

● Strong Local Demographics - The property benefits from a solid local consumer base, with over 20,301 residents within a 10-mile radius and an average household income exceeding $95,669, supporting consistent retail demand.

● Nearby University Influence - Located just 4 miles south of Ohio Northern University in Ada, the property benefits from the presence of more than 3,140 students, along with faculty and visitors, all contributing to steady traffic along the SR-235 corridor.

● Regional Draw - Hardin County serves as a key regional hub, attracting a population of more than 820,000 people within a 45-minute drive. This central positioning enhances the property’s accessibility and long-term viability within northwest Ohio.

Listing Contacts

ED
NY 10410386411
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$129,951.00
$10,829.25/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

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