Family Dollar
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Michael Carter

Senior Director

Richard G. Ludwig

Senior Director

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PROPERTY ADDRESS

140 West St., New Vienna, OH 45159

PROPERTY INFORMATION

Price:
$932,203
Cap Rate:
8.85%
Term Remaining:
5 Years
Year Built:
2007
Status:
Available

INVESTMENT HIGHLIGHTS

  • - Family Dollar Just Opted to Exercise First Five Year Option Period, which will Commence June 30th, 2017 with No Rent Concession.
  • - Extension Shows Tenants Long Term Commitment to the Site
  • - Double Net Lease Leaves Landlord with Minimal Responsibilities
  • - Corporate Backed Lease by Family Dollar | S&P Rated BB+ Investment

INVESTMENT SUMMARY

Fortis Net Lease is proud to present this single tenant investment property offering located 140 West St., New Vienna, Ohio. The subject property opened for business in September 2007. The tenant just opted to exercise their first renewal period for five years, which will commence on June 30th, 2017. The lease is double net in nature, which leaves an owner with minimal landlord responsibilities, which include repairs and replacement to the roof and parking lot and maintaining the structure. The lease comes equipped with a 10% rental escalations every 5 years, including each of the four (4), five (5) year option periods that remain. The lease is corporately guaranteed by Family Dollar, which was recently merged with Dollar Tree.

The subject property is situated on the hard corner of West Street and High Street (State Route 73), which offers customers entry points from both streets. The site is located on a half acre that comes equipped with ample parking and excellent ingress and egress. State Route 73 serves as the main thoroughfare that goes directly through New Vienna.