Current Use by Public Records
- Family Dollar / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
Property Details for 56 High St
- Year built
- 2022
- Lot size
- 1.05 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This 10,500 square foot, 2022-built Family Dollar/Dollar Tree combo store in La Rue, Ohio, presents a compelling net lease investment opportunity. Located at 56 N High St, this property boasts a strong 8.5% cap rate and a corporate-guaranteed lease with eight years remaining, plus four (five-year) renewal options. The property sits on a 1.05-acre lot and benefits from built-in rent bumps during the base term. The tenant, a credit-rated corporation, occupies the entire 10,500 square foot building, resulting in 100% occupancy since its August 1, 2022 opening. The annual net operating income (NOI) is $118,125, translating to a price per square foot of $132.35. This low-maintenance investment is situated in a low-competition area, capitalizing on the success of the combined Family Dollar/Dollar Tree model, which has demonstrated higher returns in smaller markets. The property's strong financials, long-term lease, and desirable location make it an attractive addition to any investment portfolio. The lease commenced August 1, 2022, and expires July 31, 2032.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- La Rue
- County
- Marion
- State
- Ohio
- Longitude
- -83.3843
- Latitude
- 40.5774
