For Sale
$1,331,834

517 2Nd StRipley, OH 45167

High-yield, low-maintenance retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 9,214 square-foot Dollar General store in Ripley, Ohio. The property boasts a 16-year absolute NNN lease, commencing March 28, 2019, and expiring March 31, 2035, with a remaining term of approximately 10.4 years. The lease includes four five-year renewal options, each with a 10% rent increase. The tenant, Dollar General Corporation, provides a corporate guarantee, offering significant security. The property's strong financial performance is reflected in a 7.25% cap rate and a net operating income (NOI) of $96,558. Built in 2020, this single-story building sits on a 1.66-acre lot at 517 S 2nd St, Ripley, OH 45167, a highly visible location with 10,150 vehicles passing daily. The surrounding area demonstrates strong demographics, with a ten-mile population of 26,669 and an average household income of $64,227. The asking price is $1,331,834, translating to $144.54 per square foot. This property is ideally suited for a 1031 exchange buyer or a passive investor seeking a secure, high-return investment. The property is currently 100% occupied.

Highlights

  • 15-Year Absolute NNN Lease with Dollar General Corporation.
  • Zero Landlord Responsibilities.
  • Four, five-year renewal options with 10% rent increases each.
  • 10-mile radius average household income of $64,227.
  • 10-mile radius population of 26,669.
  • High visibility location with 10,150 vehicles passing daily.

Property Details for 517 2Nd St

Property type
Lifestyle centers, Power centers
Square Feet
9,214 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
72,310 SF
Units
1

Location Insight

City
Ripley
County
Brown
State
Ohio
Latitude
38.7368197
Longitude
-83.8407974
517 2Nd St, Ripley, Ohio

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517 2Nd St
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