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    New Dollar General NNN Lease Title is generated by Realmo AI

    1435 E Spring St, St Marys, OH

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    New construction Dollar General Market store with long-term NNN lease.

    Type:RETAIL
    Property size:
    10,640 SF
    Lot size:
    2.68 Acres
    Price / SF:
    $165/SF
    Added:
    Aug 19, 2025
    Days on Market:
    300
    Last Refresh:
    May 20 at 9:15 pm

    Property Features for 1435 E Spring St

    General Information

    Standard status
    Active
    Size
    10,640 SF
    Lot size
    2.68 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Josh Bishop
    Josh Bishop

    Listing agent Josh Bishop

    Listing office Matthews Real Estate Investment Services | Dallas

    Listing date Aug 19, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services | Dallas

    HighLights

    • 15‑year absolute NNN lease starting June 2024, offering long‑term passive income.
    • Brand new 2024 build‑to‑suit construction for Dollar General.
    • Larger Dollar General PLUS prototype (10,640 SF building).
    • 5% rental increases every 5 years for the life of the lease.
    • Located in an area with 42,269 residents within a 10‑mile radius and an average household income of $89,411.
    • Dollar General MARKET store concept with expanded consumables section.

    Overview

    This property features a new Dollar General Market store, constructed in 2024. The building is a larger Dollar General PLUS prototype, encompassing 10,640 square feet and situated on a large lot of approximately 2.68 acres. The property is located in St Mary's, Ohio, roughly 50 miles southwest of Fort Wayne, Indiana. The surrounding area has a population of 42,269 residents within a 10-mile radius. The lease is an absolute NNN lease with zero landlord management responsibilities, set for a 15-year term commencing in June 2024. The lease includes 5% rental increases every five years throughout its duration. The average household income in the area is $89,411.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $191.5k $18.00
    − Vacancy −$6.7k −$0.63
    EGI $184.8k $17.37
    − OpEx −$46.2k −$4.34
    NOI $138.6k $13.03
    10,640 SF · lease $18.00/SF/yr · vacancy 3.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.98M
    $1.73M – $2.31M (±1% cap)
    NOI $138,613 @ 7.0% cap · market cap 7.86%
    Second Best
    Retail
    $603.2K
    $527.8K – $703.8K (±1% cap)
    NOI $42,226 @ 7.0% cap · market cap 2.39%
    Theoretical Best
    Office A
    $2.14M
    $1.88M – $2.50M (±1% cap)
    NOI $150,022 @ 7.0% cap · market cap 8.51%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Dollar General Discount Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Marys
    County
    Auglaize
    State
    Ohio
    Longitude
    -84.3696
    Latitude
    40.5459

    FAQs

    What type of property is this?
    Grocery and convenience store - New construction Dollar General Market store with long-term NNN lease.
    Where is this grocery and convenience store located?
    The property is located at 1435 E Spring St St Marys, OH.
    What is the asking price?
    The asking price for this property is $1,763,758.
    What are key features of this property?
    This property features: 15‑year absolute NNN lease starting June 2024, offering long‑term passive income.; Brand new 2024 build‑to‑suit construction for Dollar General.; **Larger Dollar General PLUS prototype (10,640 SF building).**
    (315) 730-6228 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Josh Bishop
    Josh Bishop
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