FD/DT – Russells Point, OH
Fortis Net Lease is pleased to present this 15,700 SF Value Add Strip Center featuring Dollar Tree and Family Dollar as the Anchor Tenant. The property is located in Russell Point, Ohio. The property is encumbered with a five (5) year triple net lease, leaving minimal landlord responsibilities. The lease contain Four (5) year options to renew, each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of “BBB-” which is classified as investment grade.
This Store is highly visible as it is strategically positioned off of Route 366. The building is located on a main artery leading into downtown Russell Point. The five mile population is nearly 12,000 with the three mile average household income of nearly $67,000. These are above-average demographics for a Dollar Store. This investment will offer a new owner success due to the financial strength and the proven profitability of the tenant, one of the nation’s top dollar stores. List price reflects a 7.50% cap rate based on NOI of $74,730 plus an additional $200,000 for the vacant space priced below replacement cost.
• Completely Remodeled in 2021 | New Dual Tenant Concept
• 10 Year NNN Lease Requiring Minimal Landlord Responsibilities
• Four (5 Yr) Options | $0.50 Rental Rate Increase
• Located on Main Retail Artery
• Investment Credit Tenant | Standard & Poor’s: ‘BBB-‘
• Traffic Count in Excess of 11,000+
• Three Mile Average Household Income $74,730
• The Store Out Positions Other Retailers in Market | Main Thoroughfare!
Instate Broker of Record: Michael J Fennessy | Dietz Commercial