Dollar General – Newark, OH

$1,961,000
Price
$94,128
Noi
4.80%
Cap Rate
9,100
Leasable Area
2021
Year Built

Fortis Net Lease is pleased to present this 9,100 SF Dollar General store located in Newark, Ohio. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & operating successfully since July of 2021.

This Dollar General is highly visible and it is strategically positioned on Cherry Valley Road, which sees 9,283 cars per day, near the Main Street intersection which sees 15,019 cars per day. The five mile population from the site is 75,773 while the one mile average household income is $86,905 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 1 mile population growth rate at 6.31%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 4.80% cap rate based on NOI of $94,128.

INVESTMENT HIGHLIGHTS
• Absolute NNN Lease | Zero Landlord Responsibilities
• 2021 BTS Construction | Columbus Market
• 14 Years Remaining on Primary Term
• Four (5 Year) Options | 10% Rent Increase at Each Option
• One Mile Household Income $86,905
• Five Mile Population 75,773 | Expected 5.48% Growth
• One Mile Population Growth Rate 6.31%
• 9,283 VPD on Cherry Valley Road | 15,019 VPD on Main Street
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• Surrounded by Residential, Medical, and Industrial Tenants

Instate Broker of Record: Michael J. Fennessy | Dietz Commercial | License # #2013001375

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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