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2160 S Columbus Rd 9,100 SF Retail Building Wooster, OH 44691 $2,082,077 CAD ($228.80 CAD/SF) 6.60% Cap Rate
Investment Highlights
- 15 Year Absolute NNN Lease
- 2020 BTS Plus Construction
- 5 Mile Population 32,353
- Zero Landlord Responsibilities
- Hard Corner Location | Seeing 13,353 Cars Per Day
- Investment Grade Dollar Store With "BBB" Credit Rating
Executive Summary
Fortis Net Lease is pleased to present this 2020 BTS Dollar General store located in Wooster, Ohio. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. There are 9.5 years left on the primary term. The lease contains 4 (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 classi?ed as Investment Grade. The store has been open & successfully operating since September 2020. This Dollar General is highly visible as it is strategically positioned on the hard corner of Old Columbus Road and Shreve Road seeing 13,353 cars per day. The 5 mile population from the site is 32,353 and the 1 mile average household income is $92,010 per year, making this location ideal for a Dollar General.
The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the ?nancial strength and the proven pro?tability of the tenant, the nation’s top dollar store. List price re?ects a 6.60% cap rate based on NOI of $100,728.
The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the ?nancial strength and the proven pro?tability of the tenant, the nation’s top dollar store. List price re?ects a 6.60% cap rate based on NOI of $100,728.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Convenience Store
Building Size
9,100 SF
Building Class
B
Year Built
1900
Price
$2,082,077 CAD
Price Per SF
$228.80 CAD
Cap Rate
6.60%
NOI
$137,417 CAD
Tenancy
Single
Building Height
1 Story
Lot Size
84.45 AC
Parking
30 Spaces (3.3 Spaces per 1,000 SF Leased)
Frontage
269’ on Old Columbus Road
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 9,100 SF
- $15.10 CAD
- Sep 2035
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 9,100 SF | $15.10 CAD | Sep 2035 |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 56-01830-000 | Improvements Assessment | $0 CAD |
| Land Assessment | $302,710 CAD | Total Assessment | $302,710 CAD |
Property Taxes
Parcel Number
56-01830-000
Land Assessment
$302,710 CAD
Improvements Assessment
$0 CAD
Total Assessment
$302,710 CAD
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2160 S Columbus Rd
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