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Dollar General, Lima, OH

Dollar General, Lima, OH


Investment Summary

Price $1,949,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases In Option Periods
Year Built 2021
Building Size 9,100 SF
Lot Size 2.0 Acres (87,120 SF)
Status Sold
Lead Brokers Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Upgraded construction with no landlord management
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $25.6 billion
» Dollar General operates more than 15,000 locations in 44 states and has plans for significant future growth

STRATEGIC LOCATION IN DENSELY POPULATED AND GROWING AREA
» Dense five-mile population of 63,999 residents with a five-mile average household income of $61,534
» 1.5 miles from I-75 (47,858 AADT) and less than five minutes from Downtown Lima (37,117 residents)
» Strategically located on St. Johns Road, one of the main north/south arterials of Lima
» Home of the University of Northwestern Ohio (4,500+ students and 550 staff)

BENEFICIAL PROXIMITY NEAR LARGE EMPLOYERS
» 1.7 miles from Husky Lima Refinery Company (2 billion gallons of refined petroleum products produced annually, including 25% of the gasoline consumed in Ohio – the refinery employs 470 employees)
» 3.4 miles from Joint Systems Manufacturing plant (800+ employees and produces 50+ armed forces tanks per month)
» Lima is home to a Ford Motor Company engine and drive shaft plant (1,530 employees) and a Procter & Gamble manufacturing plant (1,500+ employees)

Property Description

SOLD
The property is located on St Johns Road, one of the main north/south arterials for Lima, and is minutes from Interstate 75, with a daily traffic count of 47,848 vehicles. The location resides less than five minutes from downtown Lima, with a population of 37,117 residents. The site has a dense five-mile population of 63,999 residents and an five-mile average household income of $61,534. Moreover, Lima is home of the University of Northwestern Ohio with 4,500+ students and 550 staff.

The property is surrounded by several large employers and is 1.7 miles from Husky Lima Refinery Company, which produces two billion gallons of refined petroleum products annually, including 25% of the gasoline consumed in Ohio – the refinery employs 470 employees. The site is also 3.4 miles from Joint Systems Manufacturing plant with 800+ employees which produces 50+ armed forces tanks per month. Lima is home to a Ford Motor Company engine and drive shaft plant with 1,530 employees, and a Procter & Gamble manufacturing plant 1,500+ employees.

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