30445 Northwestern Highway, Suite 275 Farmington Hills, MI 48334 248.254.3410 2633 OLD OH-32, BATAVIA, OH 45103 CINCINNATI/DAYTON MSA DOLLAR GENERAL | ABS. NNN LEASE BRYAN BENDER MANAGING DIRECTOR D: 248.419.3810 [email protected]BENJAMIN SCHULTZ SENIOR DIRECTOR D: 248.254.3409 [email protected]fortisnetlease.com ACTUAL STORE
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Dollar General - OH - Batavia...30445 Northwestern Highway, Suite 275 Farmington Hills, MI 48334 248.254.3410 2633 OLD OH-32, BATAVIA, OH 45103 CINCINNATI/DAYTON MSA DOLLAR GENERAL
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30445 Northwestern Highway, Suite 275Farmington Hills, MI 48334248.254.3410
All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors,affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com-pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financialperformance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of theany materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for revieware not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will notinvestigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigationsincluding through appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL doesnot serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used forfinancial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party donot necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations aswell as market conditions, vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or taxattorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether theproperty complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.
INVESTMENT OFFERINGFortis Net Lease is pleased to present this 9100 SF. Dollar General store located inBatavia, Ohio. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease,leaving zero landlord responsibilities. The lease contains 2 (5) Yr. Options and 1 (4) Yr.and (11) Month Option to renew, each with a 10% rental rate increase. The lease iscorporately guaranteed by Dollar General Corporation which holds a credit rating of“BBB”, which is classified as Investment Grade. The store is currently open, with renthaving commenced on June 13, 2018.
This Dollar General is highly visible as it is strategically positioned on Old OH-32 whichsees 5,963 cars per day. The five mile population from the site is 23,757 while the onemile average household income is $59,817 per year, making this location ideal for aDollar General. This area is experiencing great growth with the one mile populationgrowth rate at 5.12%. The Subject offering represents an ideal opportunity for a 1031exchange buyer or a “passive” investor to attain the fee simple ownership of a DollarGeneral. This investment will offer a new owner continued success due to the financialstrength and the proven profitability of the tenant, the nation’s top dollar store. Listprice reflects a 6.50% cap rate based on NOI of $99,975.96.
PRICE $1,538,092
CAP RATE 6.50%
LEASE TYPE Absolute NNN
TERM REMAINING 13.75 Years
INVESTMENT HIGHLIGHTS• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 2 (5 Year) & 1 (4 Yr 11 Month) Options | 10% Rental Increase At Each
• One Mile Household Income $59,817
• Five Mile Population 23,757
• One Mile Population Growth Rate 5.12%
• 5,963 Cars Per Day on Old OH-32
• Investment Grade Dollar Store with "BBB" Credit Rating
• Dollar General Reported 31 Consecutive Quarter of Same StoreSales Growth
• 1 Mile from both Batavia Elementary and High School (1,770+Students)
Batavia is a village in and the county seat of Clermont County, Ohio. Batavia ison Ohio State Route 32, also known as the Appalachian Highway, a majoreast-west highway that connects Interstate 275 and the Cincinnati area to therural counties of Southern Ohio.
Batavia was surveyed on May 28, 1788, by Captain Francis Minnis, JohnO'Bannon, Nicholas Keller, Archelus Price, and John Ormsley. Virginian EzekielDimmitt became the area's first settler in the fall of 1797. George Ely purchasedthe Minnis survey in 1807 and platted the town on October 24, 1814, possiblynaming it after Batavia, New York. The Clermont County seat moved from NewRichmond to Batavia on February 24, 1824. Batavia finally incorporated as avillage on February 10, 1842.
The downtown is on Heritage Ohio Main Street and home to commercialestablishments, restaurants and various professional services. Educationalopportunities are provided by the Batavia School System and Clermont College,a branch of the University of Cincinnati. Several industries provide a stableeconomic base. The Clermont Chamber of Commerce assists the Village witheconomic development. Residential opportunities abound. There are severalapartment complexes as well as single family homes. Housing stock is variedand includes many well kept and restored historical structures in the older partof town as well as modern subdivisions.