517 2Nd StRipley, OH 45167

Property Details for 517 2Nd St

Year built

2020

Lot size

1.66 AC

Property size (Sq ft)

9,214 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Ripley

County

Brown

State

Ohio

Latitude

38.7368

Longitude

-83.8408

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