For Sale
$1,295,000

308 Main StAmanda, OH 43102

High-yield, low-maintenance retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a Family Dollar store located at 308 E Main St, Amanda, OH 43102. The property boasts 8,320 square feet on a 0.71-acre lot, built in 2016. Currently operating under a corporate-guaranteed Absolute NNN lease with a remaining term of 7.4 years expiring March 31, 2032. The lease includes six 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $85,264, resulting in a 6.58% cap rate and a price per square foot of $155.65. The asking price is $1,295,000. This strategically located property benefits from its proximity to Amanda High School, further enhancing its long-term value. The tenant, Family Dollar, is a subsidiary of Dollar Tree, Inc. (Nasdaq: DLTR), a Fortune 500 company with an investment-grade rating. This presents a compelling opportunity for passive income generation with minimal landlord responsibilities. The property's location is within the Columbus MSA, approximately 25 miles from I-270 Outerbelt. The next rent increase of 10% is scheduled for April 2027. The property's APN is 0030075820. This offering is suitable for a 1031 exchange.

Highlights

  • Tenant is a Dollar Tree subsidiary, a Fortune 500 company (Nasdaq: DLTR).
  • Investment-grade tenant (S&P: BBB).
  • 2016 construction.
  • Lease has over seven years remaining.
  • Absolute NNN lease; no landlord responsibilities.
  • 10% rent increases in April 2027 and every five years thereafter.

Property Details for 308 Main St

Property type
Retail properties, Retail space
Square Feet
8,320 SF
Year Built
2016
Lot Size (sq. ft)
30,928 SF

Location Insight

City
Amanda
County
Fairfield
State
Ohio
Latitude
39.648704965191
Longitude
-82.738611303667
308 Main St, Amanda, Ohio

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308 Main St
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