Property Details for 73 Old State Hwy

Year built

2024

Lot size

2.20 lot acres

Property size

10,640 SF

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Market in Harveysburg, Ohio. Built in 2024, this single-story building sits on a 2.2-acre lot and boasts a 15-year absolute NNN lease with a strong investment-grade tenant (S&P rating: BBB). The lease includes rare 5% rent increases every five years and three additional five-year options, ensuring consistent income growth. Landlord responsibilities are minimal; the tenant covers all insurance, taxes, and maintenance (interior and exterior, including roof, HVAC, and parking lot). This strategically located property enjoys high visibility on a main thoroughfare, just off OH-73 and three miles from Interstate 71. Its proximity to Caesar Creek Lake State Park and the Ohio Renaissance Festival grounds provides access to a large, consistent customer base. The property is the only dollar store or convenience store within a three-mile radius of these significant attractions. Strong demographics further enhance the investment potential, with over 16,900 people within a seven-mile radius and projected population growth through 2028. Household incomes within a one-mile radius exceed $102,400. The asking price is $2,219,000, representing a 6.95% cap rate and a price per square foot of $208.55. Dollar General's impressive growth trajectory, with significant new store openings and renovations in recent years, further solidifies this investment's long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with exceptional growth potential.

Location Insight

City

Harveysburg

County

Warren

State

Ohio

Longitude

-84.005

Latitude

39.5019