2-Unit Dollar General Center

Highlights:

• EARLY 5-YEAR LEASE EXTENSION - A recent, early lease extension has been executed by Dollar General through November 30, 2030, reflecting the tenant’s ongoing dedication to the site.
• STRONG DEMOGRAPHICS - The area boasts a growing population of approximately 51,478 as of July 2023, with a median household income of $50,457, supporting strong consumer demand for retail establishments like Dollar General.
• EXCELLENT LOCATION - Middletown, OH is located roughly 20 miles south of Dayton (city population of 135,512), 35 miles north of Cincinnati (the third-most populous city in Ohio with a city population of 309,317) and 90 miles southwest of Columbus (the capital and most populous city in Ohio with a population of 906,528).
• HIGH VISIBILITY AND ACCESSIBILITY - Situated on a well-traveled road, the property offers excellent visibility and easy access, attracting a strong customer base. Dollar General sees over 15,000 vehicles per day from Trenton Franklin Rd and Germantown Rd.
• BRAND NEW ROOF INSTALLED - The landlord recently invested in a new roof installation, enhancing the property's structural integrity and reducing potential maintenance costs for years to come.
• VALUE-ADD OPPORTUNITY – The property features 6,914 SF of available space in the rear, presenting an excellent opportunity for a new owner to lease to a second tenant and generate additional rental income. This flexibility enhances the property's investment potential, allowing for increased cash flow and greater overall returns.
• NATIONALLY RECOGNIZED TENANT - Dollar General is the largest “Small Box” retailer in the nation. Dollar General has been in business since 1939 with over 20,000+ locations Nationwide. NYSE: DG Investment Grade "BBB" rating.

Description:

Prime Net Lease is pleased to present this 17,500 SF two-unit retail center in Middletown, OH, anchored by Dollar General with 6,914 SF of available space, offering a compelling value-add opportunity. The 6,914 SF vacant space in the rear of the property presents a valuable opportunity for an investor to generate additional income by leasing to a complementary tenant, enhancing the overall cash flow and increasing property value. Dollar General, occupying 10,586 SF, has successfully operated at this location since 2010 and recently exercised an early 5-year lease extension, securing its commitment through November 30, 2030. This extension reflects Dollar General’s strong performance and ongoing dedication to this well-established location. The Dollar General lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, classified as Investment Grade.

This center is strategically positioned in Middletown, Ohio. Middletown, Ohio, is a city with a rich industrial history located between Cincinnati and Dayton. Known for its steel industry legacy, the city now embraces diversity and offers a vibrant community with arts, culture, and recreational activities. With a mix of parks and green spaces, residents can enjoy outdoor pursuits, while educational opportunities, local events, and economic growth contribute to a well-rounded lifestyle. Middletown's central location provides easy access to major highways, ensuring connectivity to nearby cities. Situated on a well-traveled road, the property benefits from excellent visibility and accessibility, with over 15,000 vehicles per day passing by on Trenton Franklin Rd and Germantown Rd. Middletown’s strategic location between major cities—20 miles south of Dayton, 35 miles north of Cincinnati, and 90 miles southwest of Columbus—makes it an ideal hub for retail activity, attracting a steady customer base.

This property is an ideal opportunity for a 1031 exchange buyer or investor seeking a stable, income-producing asset with minimal landlord responsibilities and a proven, investment-grade tenant. With Dollar General’s long-term commitment through November 2030, this investment offers stability with built-in upside potential, allowing for future tenant placement in a well-established retail center.

Middletown, Ohio, is a vibrant city located in southwestern Ohio, strategically positioned between Cincinnati and Dayton along Interstate 75, one of the most heavily traveled transportation corridors in the Midwest. This prime location provides easy access to two major metropolitan areas, with Cincinnati approximately 35 miles to the south and Dayton just 24 miles to the north. Both cities boast strong populations—Cincinnati with over 300,000 residents and a metro population of over 2.2 million, and Dayton with over 140,000 residents and a metro population of over 800,000. This proximity places Middletown in an ideal position to benefit from the economic activity, workforce, and consumer base of both regions.

Economic Drivers
Historically known for its strong manufacturing base, Middletown has diversified its economy to include sectors such as healthcare, retail, and education. The city is home to Atrium Medical Center, a leading healthcare facility in the region, and AK Steel Holding Corporation, which has deep roots in the community and continues to contribute to its economic vitality. Additionally, Middletown benefits from its proximity to thriving logistics and distribution hubs along the I-75 corridor, making it an attractive destination for businesses reliant on efficient transportation networks.

Population and Demographics
Middletown itself has a population of approximately 50,000 residents, with a broader regional population exceeding 1 million within a 30-mile radius. The city offers a mix of suburban and urban amenities, appealing to families, professionals, and retirees alike. The median household income in the area is approximately $51,000, supporting strong retail demand and steady consumer activity.

Retail and Development
Middletown features a robust retail sector anchored by national chains, local businesses, and dining establishments. The city is home to several major shopping centers and retail hubs, including Towne Mall Galleria, which attracts both local and regional shoppers. Its strategic location along I-75 also ensures high visibility and traffic counts for commercial properties. Recent investments in infrastructure and redevelopment projects reflect the city’s commitment to growth and modernization, further enhancing its appeal to investors.

Proximity to Educational Institutions
The area is supported by strong educational infrastructure, including Miami University in nearby Oxford, OH, and the University of Dayton, both of which contribute to a skilled workforce and a stable housing market.

Investment Potential
Middletown’s combination of strategic location, economic diversity, and proximity to two major metropolitan areas makes it a compelling market for investors. Properties in this region benefit from steady population growth, strong traffic counts, and a diverse consumer base, ensuring long-term demand and stable returns.

This blend of location, accessibility, and economic strength positions Middletown as an attractive destination for retail, healthcare, and industrial investments.

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