NNN Dollar General Southington, OH

Retail-Commercial for Sale
Catylist Listing ID: 30705957
Property Subtypes: Convenience Store, Free-Standing Building
Building Size (RSF): 9,100 SF
Gross Building Area: See Agent
Gross Land Area: 2.53 Acres
Sale Price: $1,636,292
Unit Price: $179.81 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Dollar General
Sale Terms: Cash to Seller
Cap Rate: 6.15%
Last Updated: 2/15/2021

Overview / Comments

We are pleased to present this well-located Dollar General FOR SALE in Southington, Ohio. The property is located at 4877 State Route 305 with traffic counts of 15,000+ VPD on Route 422. Conveniently located near the city of Warren which boasts 7 major highway connections, access to 2 international airports, 6 shipping ports, and a population of 6.3 million.

This Dollar General was built in 2018, and has 12 years remaining on initial 15 year lease which expires in 2033.

There are four 5-year options with rental increases with each option period.
1st option extension, $110,695.20 fixed for 5 years
2nd option extension, $121,764.72 fixed for 5 years
3rd option extension, $133,934.04 fixed for 5 years
4th option extension, $147,335.28 fixed for 5 years

Highlights:
2018-Year NNN Dollar General
Initial Lease Term Expiration: 2033
Multiple Option periods with Rental Increases
Traffic Count: 15,000+ VPD
6.15% CAP Rate
$27.8B in Net Sales for FY 2019
30 Consecutive Years of Same Store Sales Growth
Investment Grade Credit Rating: BBB

Current Tenants

Tenant Business Name Dollar General
SF of Space Occupied 9,100 SF
Options There are four 5-year options with rental increases with each option period.

Additional Details

Nearest MSA: Youngstown-Warren-Boardman
County: Trumbull
Tax ID/APN: 57-119641
Zoning: B COMMERCIAL
Retail Clientele: General, Family
Property Located Between: Route 305 & Route 422
Property Visibility: Excellent
Largest Nearby Street: Route 422
Traffic/Vehicle Count: 15,000
Area Description: This property is uniquely located at the crossroads of two highways (State Route 305 and U.S. Route 422), and is situated approximately midway between Cleveland to the northwest and Pittsburgh to the southeast.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2018
Parking Type: Surface

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,717 16,867
Median Age: 43.02 40.96
Households: 1,414 6,342
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