1207 Limestone StSpringfield, OH 45503

Property Details for 1207 Limestone St

Year built

1951

Construction

BRICK

Lot size

0.64 AC

Property size (Sq ft)

8,050 SF

Property type

Retail properties

Property subtype

Retail space

APN

340-07-00036-417-022

APU

3400700036417022

Description

This exceptional investment opportunity presents a freestanding Family Dollar store in Springfield, Ohio. Located at 1207 N Limestone St, this 0.64-acre property boasts a strong 25-year operating history with the tenant occupying the site since June 1999. The current lease, a Net Lease (NN) agreement, features a remaining term of 8.8 years, extending to June 30, 2033, with two 5-year options, each including a 10% rent increase. The property features upgraded brick construction and benefits from a high-traffic location, exceeding 21,000 vehicles per day. The strong tenant, Dollar Tree (which acquired Family Dollar in 2015), holds an investment-grade credit rating of BBB- and offers a corporate guarantee. The property generates a substantial Net Operating Income (NOI) of $71,205, representing an attractive 8.15% cap rate and a healthy rent-to-sales ratio of 5.18%. The 5-mile population is 84,545, and the 10-mile population is 115,453, indicating a robust market. This is a rare opportunity to acquire a well-located, credit-rated, net-leased retail property with significant remaining lease term and strong growth potential. The property was built in 1999 and enjoys 100% occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $2,270,668

  6.5%

  $2,096,001

  7%

  $1,946,287

• Comparable approach

  Method

  Valuation

  Relative Method

  $399,431

  Geo Method

  $399,431

• Alternative Use

  Use

  Valuation

  Residential

  $1,768,056

  Hospitality

  $1,619,529

  Educational

  $1,347,429

  Medical

  $1,393,770

  Retail

  $2,096,001

Location Insight

City

Springfield

County

Clark

State

Ohio

Latitude

39.939

Longitude

-83.806

CBSA code

44220

CBSA name

SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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