Listed by West Shores Realty
$746,240
Dollar General Portsmouth Ohio
Details
APN 321319000
Property Type Retail
Sub Type Convenience Store
Square Footage 8,030
Units 18
Cap Rate 7.50%
NOI $55,968
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 5
Lease Expiration 09/30/2027
Remaining Term 1.2
Rent Bumps Yes
Lease Options 2 five-year option periods
Price per SqFt $93
Class C
Year Built 1938
Year Renovated 2024
Lot Size (SqFt) 17,851
Parking Spaces 18 spaces
Parking per 1,000 SqFt 2.24
Investment Type Net Lease
Lease Commencement 10/01/2022
Ground Lease No
Sale Condition 1031 exchange
Retail | 7.50% CAP | 8,030 SqFt
Marketing description
We are pleased to present this rare opportunity to buy a thriving Dollar General in the dense and high barrier to entry location of Portsmouth Ohio. The property is an 8,030 Sq Ft Dollar General Retail Store adjacent to Shawnee State University with little to no competition for local grocery stores in the immediate area. This location sells beer, wine and tobacco products, making it one of the only stores in the immediate area with a liquor license. Furthermore the property benefits from a dense neighborhood location with 12,600+ households within a 5-mile radius, and 29,790+ residents.
The asset would be an attractive investment opportunity for passive investors looking for a stable cash flow with limited landlord responsibilities.
Investment highlights
- NN lease with minor landlord responsibilities. The Tenant is responsible for insurance, taxes, and pays a monthly maintenance contribution of $125.00. With no monthly landscaping, this amount has been sufficient to cover the cost of monthly care.
- 5 year Lease Term with (2) 5 year Option Periods
- $4,664 in Rental income per month in Intitial Term. $4,945 in Option 1 (ends 10/1/2027) & $5,242 in Option 2 (end 10/01/2037) Generating a strong CAP Rate from day 1
- Major Capital Improvements (New HVAC, New Parking Lot, & Roof Repairs) have been updated in recent years leaving little to no repairs for new owner.
- Newly renewed NN lease and strong store financials indicates Tenants desire to continue operations at this location
- One of the Only grocery stores in the immediate area authorized for beer and cigarette sales leaving minimal room for future competition.
Listing Contacts
Listed by West Shores Realty
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$55,968.00
$4,664.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
