Listed by Marcus & Millichap - Encino
$1,135,000
614 Light Street
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 9,026
Cap Rate 8.01%
NOI $90,924
Tenancy Single
Lease Type NNN
Lease Expiration 09/30/2034
Rent Bumps Yes
Year Built 2019
Buildings 1
Acreage 1.320
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/15/2019
Retail | 8.01% CAP | 9,026 SqFt
Marketing description
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 614 W Light Street (the "Property"), a 9,026 square-foot, single-tenant retail building net-leased to Dollar General and situated on a 1.32-acre parcel in Felicity, Ohio. The Property is offered at $1,135,000, an 8.01% capitalization rate on in-place net operating income, as a fully stabilized, passive, management-light investment anchored by a national credit retailer.
Investment highlights
- Backed by the Full Corporate Guaranty of Dollar General
- Nearly 21,000 Locations and $42.7 Billion in Annual Sales
- Single Tenant, Net-Leased, Dollar General, Backed by a Corporate Guaranty in Felicity, OH
- 15 year initial lease term with ~8.3 years remaining
- Three (3) 5-year renewal options with 10% rent increases in each option period
- Triple-Net (NNN) lease - Tenant pays taxes, insurance, utilities, and maintenance, including roof and structure
- Investment-grade credit rating of BBB from S&P
- Built in 2019
- ~20,942 stores across 48 U.S. states
Listing Contacts
Listed by Marcus & Millichap - Encino
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,924.00
$7,577.00/mo
Valuation Metrics
0
DSCR
8.01%
Cap Rate
8.01%
ROI
Map
Zoning
A AgricultureAgricultural
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