Dollar General
Retail | 8.15% Cap Rate | 10,088 Sq Ft
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 403 Jack Roush Way in Manchester, Ohio (the “Property”). Dollar General has been at this location since 2015; in 2020 Dollar general preemptively (4.5 years early) extended their double net lease demonstrating their commitment to this location and market. Dollar General has 3+ years of term remaining and is followed by five, 5-year renewal options. The lease features 10% rent increases at the start of each renewal option.
The Property is strategically positioned at 403 Jack Roush Way in Manchester, Ohio, benefiting from excellent accessibility and visibility just off US Route 52, the region's primary east-west transportation corridor that parallels the Ohio River and connects the community to Portsmouth, Cincinnati, and numerous population centers throughout southern Ohio. As one of the area's few nationally branded retailers, Dollar General occupies a highly desirable location serving Manchester and the surrounding rural communities of Adams County, where retail competition is limited and residents often travel significant distances for everyday shopping needs. The Property draws from a broad trade area supported by a diverse economic base that includes agriculture, manufacturing, healthcare, education, energy production, and tourism. Its proximity to the Ohio River, local schools, healthcare facilities, and government offices further enhances customer traffic throughout the day.
Additionally, the Property benefits from its location near the Ohio-Kentucky border, allowing it to capture demand from both Ohio and northern Kentucky residents. The combination of strong roadway access, limited retail supply, a loyal customer base, and Dollar General's position as a convenient provider of essential goods creates a compelling long-term retail location with characteristics that are difficult to replicate within the surrounding market.
Investment highlights
LONG TERM TENANT: Dollar General has been at this location since 2015. In 2020 Dollar General preemptively (4.5 years early) extended their extended their lease and upgraded the interior lighting with LED throughout, demonstrating commitment to the site and market. Dollar General has 3+ years remaining on their Double Net Lease with five (5), 5-year Renewal Options.
ATTRACTIVE RENT INCREASES: The lease includes an attractive ten percent (10%) rent increase at the start of each renewal option, providing a steady increase in income and an attractive hedge against inflation.
MINIMAL MANAGEMENT RESPONSIBILITIES: Dollar General reimburses for real estate taxes and common area maintenance and handles insurance directly; the Landlord is responsible for the roof and structure and parking lot replacement making this an ideal investment for the passive investor.
INVESTMENT GRADE CREDIT: Dollar General has the highest credit rating among its peers and holds investment grade credit – rated BBB (S&P) and Baa2 (Moody’s). Dollar General operates over 20,500 locations throughout the country. Dollar General’s net sales increased 5.2% to $42.7 Billion in fiscal year 2025.
STRATEGIC RETAIL LOCATION: The Property benefits from a corner location at the intersection of Jack Roush Way and E 4th Street, seconds from US Route 52 the region's primary east-west transportation corridor that parallels the Ohio River and connects the community to Portsmouth, Cincinnati, and numerous population centers throughout southern Ohio. The Property is positioned in the center of Manchester, providing convenient access for area residents as well as travelers.
DOMINANT MARKET-SHARE LOCATION: As is the case for the subject Property, Dollar General’s corporate strategy is to target suburban and rural communities underserved by other retailers. These low-cost locations, commonly referred to as "food deserts," are intended to provide convenience and discount shopping to area residents that have no nearby access to grocery stores, pharmacies or big-box discount retailers.
RECESSION RESISTANT TENANT: Dollar General thrives in middle-America markets where incomes may be modest, proving the tenant to be a resilient and recessionresistant retailer. Dollar General has reported positive year-over-year growth in net sales every year since the company went public in 2009.
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