520 Main St Marion, OH 43302-2331
- Retail properties
- 0.64 lot acres
Current Use by Public Records
- Family Dollar / Discount Supermarket / School Supply Store
- LibertyX Bitcoin ATM / Atm
Property Details for 520 Main St
- Year built
- 1990
- Lot size
- 0.64 lot acres
- Property type
- Retail properties
- APN
- 12-104000.0700
- APU
- 121040000700
Description
This exceptional investment opportunity presents a 11,112 square foot Family Dollar store located at 520 North Main Street, Marion, OH 43302. The property, built in 1990, sits on a 0.64-acre lot and boasts a 100% occupancy rate with a corporate guarantee from Dollar Tree, Inc. The current lease, a modified gross lease, commenced March 1, 1990, and expires December 31, 2027, leaving approximately 3.1 years remaining. The lease includes three five-year options with approximately 3.50% rent increases. The asking price is $595,000, representing a price per square foot of $53.55 and a compelling 10.65% cap rate. The property generates a Net Operating Income (NOI) of $63,378. The tenant, Family Dollar, benefits from a strong location in Marion's prime retail corridor, near other national brands. This strategically positioned asset offers a stable income stream and significant upside potential due to the lease terms and the tenant's financial strength. The property is situated in a central Ohio location, just 46 miles from Columbus, serving a population of 36,053 residents with an average household income of $44,879. Additional rent is generated through a percentage rent clause equal to 2.50% of gross sales exceeding $2,656,240.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Marion
- State
- Ohio
- Longitude
- -83.129
- Latitude
- 40.5973
- CBSA code
- 32020
- CBSA name
- MARION, OH MICROPOLITAN STATISTICAL AREA
