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Shopping Strip

Dollar General & U.S. Armed Forces

887 NW Washington Blvd, Hamilton, OH 45013

Listing Price: $2,205,735

Cap Rate
8.25%
Rentable SF
13,190
Lot Size
1.18 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present this Dollar General anchored strip center located at 887 NW Washington Boulevard in Hamilton, Ohio. This two-tenant center is 13,190 square feet with both tenants carrying strong Standard & Poor’s credit ratings. Positioned less than one minute from a hard, signalized corner with over 19,000 vehicles per day, this 1.19 acre parcel is located near the intersection of NW Washington Boulevard and Knapp Drive. This location is approximately three miles west of State Highway 127 and .2 miles from the Kroger Shopping Center. The nearest Dollar General and Family Dollar are 1.6 miles and 1.2 miles south respectively. Retailers in the immediate area include Kroger, Meijer, Applebee’s, Planet Fitness, Steak n Shake, Rural King Supplies, Tractor Supply Co, Walmart Supercenter, Lowe’s, Big Boy, Texas Road House and Sonic as well as many other local retailers. Dollar General extended four years early in 2013 for an additional five years and then did the same in 2017, showing its commitment to the location. The 2013 extension came with an increase in common area maintenance; the latest extension gives Dollar General five years remaining on its lease, which expires December 31, 2026. Dollar General also has three additional five-year renewal options with 10 percent rent bumps at each renewal and three and a a half percent increases in common area maintenance at each renewal. Dollar General invested $50,000 to install three new five-ton rooftop York AC units following a 2014 hail storm that required a new $71,000 roof to be placed on the building. The York units carry five-year warranties on each compressor and 10-year on the heat exchangers. The new roof is a .60 mil EPDM (ethylene propylene diene terpolymer), which is an extremely durable synthetic rubber roofing membrane. The roof also came with new 20-year roof warranty by Kelley Bros. (expires in 2034).

Investment Highlights

  • 2006 Class A Construction was a Build to Suit for Dollar General
  • This Dollar General Ranks Better than 64 Percent of Dollar General Locations Nationwide
  • Traffic Count of Over 19,000 at the Intersection of Main and NW Washington Boulevard
  • Dollar General Carries BBB S&P Investment Grade Credit, United States Government is S&P Rated AA+
  • Armed Forces Career Center Just Renewed for Five Years with a 9.69 Percent Rent Bump and Tenant Improvement Investment
  • Dollar General has 10 Percent Increases at Each of the Three Remaining Five-Year Options
  • Dollar General will Install New LED Signage and New Light Packs at it's Expense

Exclusively Listed By

Shopping Strip

Dollar General & U.S. Armed Forces

Listing Price: $2,205,735

Cap Rate
8.25%
Rentable SF
13,190
Lot Size
1.18 acres
Year Built
2006

Investment Highlights

  • 2006 Class A Construction was a Build to Suit for Dollar General
  • This Dollar General Ranks Better than 64 Percent of Dollar General Locations Nationwide
  • Traffic Count of Over 19,000 at the Intersection of Main and NW Washington Boulevard
  • Dollar General Carries BBB S&P Investment Grade Credit, United States Government is S&P Rated AA+
  • Armed Forces Career Center Just Renewed for Five Years with a 9.69 Percent Rent Bump and Tenant Improvement Investment
  • Dollar General has 10 Percent Increases at Each of the Three Remaining Five-Year Options
  • Dollar General will Install New LED Signage and New Light Packs at it's Expense

Investment Overview

Marcus & Millichap is pleased to present this Dollar General anchored strip center located at 887 NW Washington Boulevard in Hamilton, Ohio. This two-tenant center is 13,190 square feet with both tenants carrying strong Standard & Poor’s credit ratings. Positioned less than one minute from a hard, signalized corner with over 19,000 vehicles per day, this 1.19 acre parcel is located near the intersection of NW Washington Boulevard and Knapp Drive. This location is approximately three miles west of State Highway 127 and .2 miles from the Kroger Shopping Center. The nearest Dollar General and Family Dollar are 1.6 miles and 1.2 miles south respectively. Retailers in the immediate area include Kroger, Meijer, Applebee’s, Planet Fitness, Steak n Shake, Rural King Supplies, Tractor Supply Co, Walmart Supercenter, Lowe’s, Big Boy, Texas Road House and Sonic as well as many other local retailers. Dollar General extended four years early in 2013 for an additional five years and then did the same in 2017, showing its commitment to the location. The 2013 extension came with an increase in common area maintenance; the latest extension gives Dollar General five years remaining on its lease, which expires December 31, 2026. Dollar General also has three additional five-year renewal options with 10 percent rent bumps at each renewal and three and a a half percent increases in common area maintenance at each renewal. Dollar General invested $50,000 to install three new five-ton rooftop York AC units following a 2014 hail storm that required a new $71,000 roof to be placed on the building. The York units carry five-year warranties on each compressor and 10-year on the heat exchangers. The new roof is a .60 mil EPDM (ethylene propylene diene terpolymer), which is an extremely durable synthetic rubber roofing membrane. The roof also came with new 20-year roof warranty by Kelley Bros. (expires in 2034).

Exclusively Listed By

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