Building Details

Year Built 2020

Tenancy Single

Listing Agency: Fortis Net Lease

Listed By: Bryan Bender · License #MI 6501319610 Show Phone

Source: Crexi

Added: Aug 26 Changed: Oct 8 Last Checked: Oct 14 at 10:14PM

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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 Fortis Net Lease

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Investment Insights

Based on property information with market context.

This 9,100-square-foot Dollar General property in Wooster, Ohio, was built in 2020 and has operated since September of that year. The asset is subject to an absolute NNN lease, placing no landlord responsibilities on the owner under the stated lease structure. The tenant obligation began with a 15-year primary term, with 9.5 years remaining.

The lease provides four 5-year renewal options, each carrying a 10% rental rate increase. Dollar General Corporation provides the corporate guarantee and carries a BBB investment-grade credit rating. Positioned at the corner of Old Columbus Road and Shreve Road, the store records 13,353 cars per day. The offering reflects a 6.75% cap rate and may accommodate a 1031 exchange structure.

Key Highlights

• 9,100‑square‑foot Dollar General property built in 2020
• Absolute NNN lease with 9.5 years left on the primary term
• Four 5‑year renewal options, each with a 10% rental rate increase

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,537

Cap Rate

6.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,830,740 $1.8M

Cap Rate 7%

$1,307,671 $1.3M

Cap Rate 9%

$1,017,078 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,100 SF

Gross rent

$136.5K $15.00/SF

− Vacancy

−$5.7K −$0.63/SF

EGI

$130.8K $14.37/SF

− OpEx

−$39.2K −$4.31/SF

NOI

$91.5K $10.06/SF

Area

Wayne County, OH

Vacancy

4.20%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,830,740

Cap Rate 7%

$1,307,671

Cap Rate 9%

$1,017,078

Alternative Uses

Best Use

Retail

$1.31M

$1.14M – $1.53M (±1% cap)

NOI $91,537 @ 7.0% cap · market cap 6.13%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$6.65M

$5.82M – $7.76M (±1% cap)

NOI $465,570 @ 7.0% cap · market cap 31.20%

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

Property Analytics

Current Use

1031 exchange properties

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Spa & Massage Center Garden Center Grocery & Convenience Store

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

Lease Details

13,353 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

37

Businesses Nearby

Explore this area Business Placement

Demographics for 44691, OH

44,666

Population

19,369

Households

2.3

Avg Household Size

41

Median Age

31%

College-Educated

93%

High-School Grad

154.9 sq mi

ZIP Area

288

Density / Sq Mi

$71,319

Median Household Income

$37,322

Median Earnings

$881

Median Rent

$216,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

NNN property - Corporate-guaranteed retail occupancy supports an absolute NNN structure with defined renewal options.

Where is this nnn property located?

The property is located at 2161 South Columbus Road Wooster, OH.

What is the asking price?

The asking price for this property is $1,492,266.

What are key features of this property?

This property features: 9,100‑square‑foot Dollar General property built in 2020; Absolute NNN lease with 9.5 years left on the primary term; Four 5‑year renewal options, each with a 10% rental rate increase