73 Old State HwyHarveysburg, OH 45068

For Sale
$2,219,000

High-yield NNN retail investment

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Market in Harveysburg, Ohio. Built in 2024, this single-story building sits on a 2.2-acre lot and boasts a 15-year absolute NNN lease with a strong investment-grade tenant (S&P rating: BBB). The lease includes rare 5% rent increases every five years and three additional five-year options, ensuring consistent income growth. Landlord responsibilities are minimal; the tenant covers all insurance, taxes, and maintenance (interior and exterior, including roof, HVAC, and parking lot). This strategically located property enjoys high visibility on a main thoroughfare, just off OH-73 and three miles from Interstate 71. Its proximity to Caesar Creek Lake State Park and the Ohio Renaissance Festival grounds provides access to a large, consistent customer base. The property is the only dollar store or convenience store within a three-mile radius of these significant attractions. Strong demographics further enhance the investment potential, with over 16,900 people within a seven-mile radius and projected population growth through 2028. Household incomes within a one-mile radius exceed $102,400. The asking price is $2,219,000, representing a 6.95% cap rate and a price per square foot of $208.55. Dollar General's impressive growth trajectory, with significant new store openings and renovations in recent years, further solidifies this investment's long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with exceptional growth potential.

Highlights

  • $2,219,000 asking price for a new construction Dollar General Market, 10,640 square feet on a 2.2-acre parcel, completed September 2024.
  • 15-year absolute NNN lease with 5% rent increases every 5 years and three 5-year options.
  • No landlord responsibilities; tenant responsible for all insurance, taxes, and maintenance (interior and exterior).
  • Investment-grade tenant (Dollar General, S&P rating: BBB); expanded grocery offerings in the DG Market format.
  • Dollar General's strong growth: $38.7B net sales (FY2023), with plans for 800 new stores, 1,500 remodels, and 85 relocations in 2024.

Property Details for 73 Old State Hwy

Property type
Other retail properties, Individual retail properties
Square Feet
10,640 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
95,832 SF

Location Insight

City
Harveysburg
County
Warren
State
Ohio
Latitude
39.5018696
Longitude
-84.0049855
73 Old State Hwy, Harveysburg, Ohio

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73 Old State Hwy
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