7992 State Route 366
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7992 State Route 366
15,700 SF 100% Leased Retail Building Russells Point, OH 43348 $989,000 ($63/SF) 7.56% Cap Rate
Investment Highlights
- Completely Remodeled in 2021 | New Dual Tenant Concept
- 5 Year NN Lease Requiring Minimal Landlord Responsibilities
- Located on Main Retail Artery
- Value Add Component | 5,000 Square Feet Vacant
- Four (5 Yr) Options | $0.50 Rental Rate Increase
- Investment Credit Tenant | Standard & Poor's: 'BBB'
Executive Summary
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 Russells Point, Ohio. The property is encumbered with a ?ve (5) year double net lease, leaving minimal landlord responsibilities. The lease contains 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 classi?ed 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 Russells Point. The ?ve-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 ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. The List price is$989,000 which is priced well below replacement cost at $62.99 P/ft.
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 Russells Point. The ?ve-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 ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. The List price is$989,000 which is priced well below replacement cost at $62.99 P/ft.
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Retail
Building Size
15,700 SF
Building Class
B
Year Built/Renovated
2019/2020
Price
$989,000
Price Per SF
$63
Cap Rate
7.56%
NOI
$74,730
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Land Acres
1.00 AC
Zoning
Commercial - Commercial
Parking
39 Spaces (2.48 Spaces per 1,000 SF Leased)
Frontage
271 FT on Ohio 366
PROPERTY TAXES
| Parcel Number | 51-032-12-23-022-000 | Improvements Assessment | $282,210 |
| Land Assessment | $44,160 | Total Assessment | $326,370 |
PROPERTY TAXES
Parcel Number
51-032-12-23-022-000
Land Assessment
$44,160
Improvements Assessment
$282,210
Total Assessment
$326,370
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Andrew Bender -
Corey Bunch -
Power Broker Bryan Bender -
Fortis Net Lease
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7992 State Route 366
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