Listing Agency: Matthews Real Estate Investment Services - Orange County Show Phone

Listed By: Meghan Carroll · License #02151705(CA) Show Phone

Source: Moodyscre

Added: Dec 5, 2024 Changed: Oct 26 Last Checked: Oct 26 at 3:18PM

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Investment Insights

Based on property information with market context.

This retail property is occupied by Dollar General, which commenced a new 10-year lease and has eight years remaining on the base term, demonstrating a strong commitment to the location. Dollar General has an investment grade credit rating of BBB (S&P) and a market capitalization of approximately $20 billion. The company has approximately 21,000 locations and plans to continue expansion. Considered an essential retailer, Dollar General has proven to be a profitable company. The property is located less than 2 miles from Interstate 80, which has an average daily vehicle count of approximately 24,800 vehicles per day. The property is located in Delta, OH, approximately 25 miles west of Toledo, OH (population 266,301). The property offers an attractive 8.25% return.

Key Highlights

• Attractive 8.25% return on a stabilized investment grade credit tenant.
• Dollar General boasts an investment grade credit rating of BBB (S&P).
• Eight (8) years remaining on a brand‑new 10‑year lease, demonstrating a strong commitment to this location.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,097

Cap Rate

8.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,621,940 $1.6M

Cap Rate 7%

$1,158,529 $1.2M

Cap Rate 9%

$901,078 $901.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,651 SF

Gross rent

$115.0K $10.80/SF

− Vacancy

−$6.9K −$0.65/SF

EGI

$108.1K $10.15/SF

− OpEx

−$27.0K −$2.54/SF

NOI

$81.1K $7.61/SF

Area

Fulton County, OH

Vacancy

6.00%

Lease Rate

$10.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,621,940

Cap Rate 7%

$1,158,529

Cap Rate 9%

$901,078

Alternative Uses

Best Use

Specialty Retail

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,097 @ 7.0% cap · market cap 8.92%

Second Best

Retail

$992.0K

$868.0K – $1.16M (±1% cap)

NOI $69,442 @ 7.0% cap · market cap 7.64%

Theoretical Best

Office A

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,080 @ 7.0% cap · market cap 13.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Law Firm Pharmacy Auto Parts Store Hair Salon Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

10k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 56% Dining 44%

Dollar General Shops & Services

5,374 visits/mo 0.2 miles

SUBWAY Dining

3,240 visits/mo 0.1 miles

Marco's Pizza Dining

1,039 visits/mo 0.3 miles

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Community Markets — 702 E Main St, Delta, OH 43515

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - NNN Dollar General with 8 years remaining on lease.

Where is this grocery and convenience store located?

The property is located at 6670 Us Highway 20A Delta, OH.

What is the asking price?

The asking price for this property is $909,091.

What are key features of this property?

This property features: Attractive 8.25% return on a stabilized investment grade credit tenant.; Dollar General boasts an investment grade credit rating of BBB (S&P).; Eight (8) years remaining on a brand‑new 10‑year lease, demonstrating a strong commitment to this location.