1558 Orch Park Rd, Lexington, OH 44904-1321
- Retail space
- 9,100 SF
- 1.11 lot acres
Current Use by Public Records
- Dollar General / Grocery & Convenience Store
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- Western Union / Bank / Credit Union
- FedEx OnSite / Postal Service / Courier Service
Property Details for 1558 Orch Park Rd
- Year built
- 2005
- Lot size
- 1.11 lot acres
- Property type
- Retail space
- APN
- 059-62-210-42-002
- APU
- 596221042002
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 1, 2025 | — | Bmg Value Fund LLC | — | Deed · related | $6.2M · First Bank |
| Mar 19, 2025 | $728,925 | Bmg Value Fund LLC | 1558 Orchard Park LLC | Deed | — |
| Oct 6, 2015 | $781,000 | 1558 Orchard Park LLC | Cornerstone Lexington LLC | Limited Warranty Deed | $665k · North Valley Bank |
| Dec 30, 2005 | — | Cornerstone Lexington LLC | Cornerstone D G LLC | Limited Warranty Deed | $648k · Charter One Bank NA |
| Mar 24, 2005 | $150,000 | Cornerstone D G LLC | Stephen F Walker | Warranty Deed | — |
Description
This exceptional investment opportunity features a 9,014 square foot Dollar General store located at 1558 Orchard Park Rd, Lexington, OH 44904. Built in 2005 on a 1.11-acre lot (plus an available 0.81-acre parcel), this property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $68,520. The property is subject to a triple-net (NNN) lease with a credit-rated corporate guarantor, ensuring consistent cash flow. The current lease, commencing February 1, 2006, and expiring January 31, 2031, has a remaining term of approximately 6.2 years, with three 5-year renewal options, each with a +/- 5% rent adjustment. The asking price is $856,500, translating to $95.02 per square foot. The property benefits from its location as the only dollar store in Lexington, serving a population of 32,490 with an average household income of $70,000 within a 5-mile radius. Surrounding national retailers include YMCA, NAPA Auto Parts, Subway, Rite Aid, and American Freight Furniture & Mattress. The additional 0.81-acre parcel is available for an additional $54,999, offering potential for expansion or added value. This property presents a compelling investment opportunity, particularly attractive for 1031 exchange investors seeking minimal landlord responsibilities and a strong return. The property's strong sales history and tenant commitment to a 10-year lease extension further solidify its value.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $845,000
- ML approach
- $830,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $895,000
- AI Estimate
- $1,127,000
Market price range: $200k - $895kMarket price range: $384k - $1.13M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $545,000 Current use
- RESTAURANT
- $905,000 Change: +67% Conversion: Easy
- OFFICE BUILDING
- $590,000 Change: +9% Conversion: Easy
- AUTO REPAIR, GARAGE
- $575,000 Change: +6% Conversion: Difficult
- MEDICAL BUILDING
- $560,000 Change: +3% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $500,000 Change: -8% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Richland
- State
- Ohio
- Longitude
- -82.5677
- Latitude
- 40.682
- CBSA code
- 31900
- CBSA name
- MANSFIELD, OH METROPOLITAN STATISTICAL AREA
