Dollar General | 13889 Woodworth Rd
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Dollar General 13889 Woodworth Rd
9,100 SF Retail Building New Springfield, OH 44443 $1,894,000 ($208/SF) 5.25% Cap Rate
Investment Highlights
- LONGER TERM LEASE - Over 8 years remaining on the initial term of the lease, followed by three, 5-year options.
- MINIMAL COMPETITION - The property is more than 10 miles from the nearest discount store or major grocer.
- IDEAL DOLLAR GENERAL MARKET - The surrounding area has household income levels of $65,000 in the 1-Mile Ring and $78,000 in the 3-Mile Ring.
- ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands off" investment.
- EXCELLENT VISIBILITY - Frontage and signage on Woodworth Road (OH-165), with more than 6,000 vehicles passing by daily.
- NATIONALLY RECOGNIZED TENANT - Dollar General is the largest “Small Box” retailer in the nation.
Executive Summary
Prime Net Lease is pleased to present this 9,100 SF Dollar General store located in New Springfield, Ohio. The property is encumbered with a 15-year absolute NNN lease, leaving the landlord with no responsibilities. There are currently 8+ years remaining on the current lease with Three, 5-year options left. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade.
The property has excellent visibility with frontage and signage on Woodworth Road (OH-165), more than 6,000 vehicles passing by daily. Nearby uses include Welsh Motors Ford Dealership, Swift Mart, U.S. Postal Service, Goodhope Speedway, and My Wish Weddings Barn. The property also has regional access, just 6 miles from on/off ramps to I-76, Ohio Turnpike, a major thoroughfare providing access northwest to Akron and Cleveland and southeast to Pittsburgh. There are 1,535 people within 3 miles of the site and 6,904 people within 5 miles of the property and the surrounding area is an ideal dollar store market - average household incomes within 1 mile of the site are $65,000 and $78,000 within 3 miles.
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.
The property has excellent visibility with frontage and signage on Woodworth Road (OH-165), more than 6,000 vehicles passing by daily. Nearby uses include Welsh Motors Ford Dealership, Swift Mart, U.S. Postal Service, Goodhope Speedway, and My Wish Weddings Barn. The property also has regional access, just 6 miles from on/off ramps to I-76, Ohio Turnpike, a major thoroughfare providing access northwest to Akron and Cleveland and southeast to Pittsburgh. There are 1,535 people within 3 miles of the site and 6,904 people within 5 miles of the property and the surrounding area is an ideal dollar store market - average household incomes within 1 mile of the site are $65,000 and $78,000 within 3 miles.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,100 SF
Year Built
2017
Price
$1,894,000
Price Per SF
$208
Cap Rate
5.25%
NOI
$99,456
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Land Acres
2.02 AC
Parking
25 Spaces (2.75 Spaces per 1,000 SF Leased)
Frontage
186 FT on Woodworth Road
PROPERTY TAXES
Parcel Number | 01-217-0-144.01-0 | Improvements Assessment | $198,400 |
Land Assessment | $76,990 | Total Assessment | $275,390 |
PROPERTY TAXES
Parcel Number
01-217-0-144.01-0
Land Assessment
$76,990
Improvements Assessment
$198,400
Total Assessment
$275,390
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Dollar General | 13889 Woodworth Rd
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