7992 State Route 366 - Retail FOR SALE


Russells Point, OH 43348
$989,000 USD
248-419-3657
7992 State Route 366, Russells Point, OH for Sale
$989,000 USD
Retail - FOR SALE
1/6
null | 7.56% Cap Rate

7992 State Route 366
Russells Point, OH 43348


HIGHLIGHTS

  • Completely Remodeled in 2021 | New Dual Tenant Concept
  • Value Add Component | 5,000 Square Feet Vacant
  • 5 Year NN Lease Requiring Minimal Landlord Responsibilities
  • Four (5 Yr) Options | $0.50 Rental Rate Increase
  • Located on Main Retail Artery
  • Investment Credit Tenant | Standard & Poor's: 'BBB'

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$989,000 USD

PRICE/SF

$63 USD /SF

CAP RATE

7.56%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

Commercial

APN/PARCEL ID

51-032-12-23-022-000

ASK ABOUT THIS PROPERTY

Andrew BenderFortis Net LeaseMore Info
248-419-3657

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Andrew BenderFortis Net LeaseMore Info
248-419-3657

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.