50 2Nd AveMiddleport, OH 45760

Property Details for 50 2Nd Ave

Year built

1989

Lot size

3.18 AC

Property size (Sq ft)

6,000 SF

Property type

Retail properties

Property subtype

Retail space

APN

1501604000

APU

1501604000

Description

This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 50 S 2nd Ave, Middleport, OH 45760. The property, totaling 9,180 square feet, boasts a strong 10.00% capitalization rate, generating a net operating income (NOI) of $56,635. Built in 1988 and renovated in 2003, the building is situated on a prominent corner with high visibility and daily traffic of 6,751 vehicles. The current lease, a modified gross lease, has approximately 5.6 years remaining, with four, five-year renewal options that include rent bumps. The landlord is responsible for roof, structure, parking lot, and base year property taxes and insurance. Family Dollar, a long-standing tenant (over three decades), recently extended its lease in June 2023. The property benefits from a strong demographic profile, with an average household income exceeding $57,130 within a 5-mile radius and over 12,200 residents in the same area. Its proximity to Wahama Senior High School (1.9 miles) and Rio Grande Community College (7.2 miles) further enhances its strategic location. The asking price is $566,350, representing a compelling price per square foot of $61.69. This is a rare opportunity to acquire a stable, high-performing retail investment with significant long-term potential. The property offers a secure investment with a proven tenant and a favorable lease structure.

• CAP approach

  CAP return

  Valuation

  6%

  $1,535,291

  6.5%

  $1,417,192

  7%

  $1,315,964

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,414,325

  Geo Method

  $1,414,325

• Alternative Use

  Use

  Valuation

  Residential

  $1,195,454

  Hospitality

  $1,095,030

  Educational

  $911,052

  Medical

  $942,384

  Retail

  $1,417,192

Location Insight

City

Middleport

County

Meigs

State

Ohio

Latitude

39.0014

Longitude

-82.048

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.