Overview

Description

Fortis Net Lease is pleased to present this 15,700 SF Value Add Strip Center featuring
Dollar Tree and Family Dollar as the Anchor Tenant. The property is located in Russells
Point, Ohio. The property is encumbered with a five (5) year double net lease, leaving
minimal landlord responsibilities. The lease contains Four (5) year options to renew, each
with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree
Corporation which holds a credit rating of “BBB” which is classified as investment
grade.

This Store is highly visible as it is strategically positioned off of Route 366. The building
is located on a main artery leading into downtown Russells Point. The five mile
population is nearly 12,000 with the three mile average household income of nearly
$67,000. These are above-average demographics for a Dollar Store.

This investment will offer a new owner success due to the financial strength and the
proven profitability of the tenant, one of the nation’s top dollar stores. The List price
is $989,000 priced well below replacement cost.


Russells Point is a village located in northwest Logan County, Ohio. The population was 1,391 at the 2010 census. It is situated on Indian Lake, which had long been a popular summer resort destination. The village of Russells Point also owns local low power WRPO (93.5 FM), operated by Gray Fox Broadcasting as its locally originating community radio station.

Russells Point was the locale of the now defunct Sandy Beach Amusement Park, which was razed in 1982 after years of deterioration. It closed due to financial difficulties and declining patrons in 1972. A photo showing the arch-shaped steel footbridge, the remnant of the park, is posted to the right of this article.

Due to its location on the south shore of Indian Lake, Russells Point includes several highways. U.S. Route 33 is the main street in Russells Point, and State Routes 366 and 708 are also important. State Route 720 begins on the northwestern side of the village.

Highlights

• Completely Remodeled in 2021 | New Dual Tenant Concept
• Value Add Component | 5,000 Square Feet Vacant
• 5 Year NN Lease Requiring Minimal Landlord Responsibilities
• Four (5 Yr) Options | $0.50 Rental Rate Increase
• Located on Main Retail Artery
• Investment Credit Tenant | Standard & Poor's: 'BBB'
• Traffic Count in Excess of 11,000+
• Three Mile Average Household Income $74,730
• The Store Out Positions Other Retailers in Market | Main Thoroughfare!

Documents

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