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SINGLE TENANT ABSOLUTE NNN Investment Opportunity
911 S DEFIANCE STREET
STRYKER OHIOACTUAL SITE
2 NATIONAL NET LEASE GROUP
ANDREW FALLONExecutive Managing DirectorSRS National Net Lease Group
1765 Greensboro Station Place Tower 1, Suite 900McLean, VA 22102 M [email protected] DC License No. SP200204411
EXCLUSIVELY MARKETED BYBroker of Record: John M. Hoty of Hoty Entprises, Inc. | OH License #2001013563
DEFI
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ST.
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ACTUAL SITE 3 NATIONAL NET LEASE GROUP
Parcel Map
OFFERING SUMMARY Offering
Property Specifications
ASKING PRICE $1,177,700
CAP RATE 6.75%
NET OPERATING INCOME $79,496
PROPERTY ADDRESS 911 S. Defiance StreetStryker, OH 43557
RENTABLE AREA 9,026 SF
LAND AREA 1.70 Acres
YEAR BUILT 2017
OWNERSHIP Fee Simple (Land & Building)
TENANT Dollar General
GUARANTY Corporate
LEASE TYPE Absolute NNN
LANDLORD RESPONSIBILITIES None
LEASE TERM 15 years
INCREASES 10% at Beg. of Each Option
OPTIONS 3 (5-Year)
RENT COMMENCEMENT 7/17/2017
LEASE EXPIRATION 7/31/2032
4 NATIONAL NET LEASE GROUP
Lease Term Rental Rates
TENANT NAMESQUARE
FEETLEASE START
LEASE END
BEGIN INCREASE MONTHLY ANNUALLY PSF OPTIONS
Dollar General 9,026 July 2017 July 2032 Current - $6,623 $79,480 $11.36 3 (5-Year)
(Corporate Guaranty)10% Increase at Beg.
of Each Option
RENT ROLL & INVESTMENT HIGHLIGHTS
12 Years Remaining | Corporate Guaranteed | Investment Grade Tenant (S&P: BBB) | Scheduled Rental Increases | Significant Store Expansion
• Corporate guaranteed by Dollar General Corporation (S&P: BBB)• Dollar General has over 12 years remaining in their initial lease term with 3 (5-year) option periods to extend,
demonstrating their commitment to the site• The lease features 10% rental increases at the beginning of each option period, generating NOI growth and
hedging against inflation• Dollar General operates more than 16,094 locations in 44 states
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises• No landlord responsibilities• Ideal, management free investment for a passive investor
Located Along State Highway 2 | Extremely Limited Competition• Located along State Highway 2 (4,400 VPD), connecting commuters to Wauseon and Archbold, two major
cities in the immediate area• The site benefits from excellent visibility via significant street frontage and a large pylon sign• Virtually no competition in the surrounding 5-mile trade area, creating a large consumer draw for the store
Local Demographics in 10-Mile Trade Area• More than 30,000 residents and 23,000 employees support the trade area• $64,000 average household income
5 NATIONAL NET LEASE GROUP
Location
Parking
Access
Parcel
Traffic Counts
Year Built
Improvements
Zoning
Located inStryker, Ohio
Williams County
There are approximately 30 parking spaces
on the owned parcel.
The parking ratio is approximately 3.87 stalls per
1,000 SF of leasable area.
State Highway 21 Access Point
Parcel Number: 064-090-01-020.002
Acres: 1.70
Square Feet: 74,205 SF
State Highway 2 4,400 Cars Per Day
State Highway 34 2,614 Cars Per Day
2017
There is approximately 9,026 of existing building area
Commercial
PROPERTY OVERVIEW
6 NATIONAL NET LEASE GROUP
TOLEDO60 min 60 miles
FORT WAYNE70 min 55 miles
LOCATION MAP
2019 ESTIMATED POPULATION
3 Mile 2,320
5 Mile 5,005
10 Mile 30,334
2019 AVERAGE HOUSEHOLD INCOME
3 Mile $62,737
5 Mile $67,693
10 Mile $64,274
2019 ESTIMATED TOTAL EMPLOYEES
3 Mile 982
5 Mile 1,510
10 Mile 23,455
ARCHBOLD
STRYKER
BRYAN
7 MILES TO7 MILES TOARCHBOLDARCHBOLD
8.7 MILES TO8.7 MILES TOBRYANBRYAN
CARS PER DAY4,400
3,260 STUDENTS ENROLLED3,260 STUDENTS ENROLLED
CARS PER DAY2,614
7 NATIONAL NET LEASE GROUP
S. D
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HIG
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Y 19
1 &
2S.
DEF
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/STA
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IGW
HAY
191
& 2
CARS PER DAY4,400
STATE HIGHWAY 191
STATE HIGHWAY 191
STRYKER STRYKER HIGH SCHOOLHIGH SCHOOL
501 - 1,000 EMPLOYEES501 - 1,000 EMPLOYEESINDUSTRY-CONSUMER GOODS INDUSTRY-CONSUMER GOODS
AND SERVICES.AND SERVICES.REVENUE $25M TO $100MREVENUE $25M TO $100M
8 NATIONAL NET LEASE GROUP
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CARS PER DAY4,440
9 NATIONAL NET LEASE GROUP
10 NATIONAL NET LEASE GROUP
3 MILES 5 MILES 10 MILES
2019 Estimated Population 2,320 5,005 30,334
2024 Projected Population 2,325 5,016 30,230
2010 Census Population 2,286 4,940 30,444
Historical Annual Growth 2010 to 2019 0.21% 0.19% -0.04%
2019 Estimated Households 894 1,690 12,155
2024 Projected Households 900 1,702 12,145
2010 Census Households 870 1,647 12,100
Projected Annual Growth 2019 to 2024 0.13% 0.14% -0.02%
Historical Annual Growth 2010 to 2019 0.36% 0.33% 0.05%
2019 Estimated White 95.35% 92.82% 93.2%
2019 Estimated Black or African American 2.93% 5.63% 1.5%
2019 Estimated Asian or Pacific Islander 0.17% 0.20% 0.5%
2019 Estimated American Indian or Native Alaskan 0.56% 0.36% 0.4%
2019 Estimated Other Races 2.07% 2.08% 2.6%
2019 Estimated Hispanic 8.32% 7.29% 7.8%
2019 Estimated Average Household Income $62,737 $67,693 $64,274
2019 Estimated Median Household Income $54,054 $55,987 $50,532
2019 Estimated Per Capita Income $22,552 $23,264 $25,805
2019 Estimated Total Businesses 75 120 1,336
2019 Estimated Total Employees 982 1,510 23,455
AREA DEMOGRAPHICS
COMPANY TYPE 2019 EMPLOYEES 2019 REVENUE
Public (NYSE: DG) 135,000 $25.63 B2019 NET INCOME 2019 ASSETS 2019 EQUITY CREDIT RATING
$1.59 B $13.20 B $6.42 B S&P: BBB
Dollar General dollargeneral.com
Dollar General Corporation has been delivering value to shoppers for more than 80 years. Dollar General helps shoppers Save time. Save money. Every day! by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 16,094 stores in 44 states as of November 1, 2019. In addition to high-quality private brands, Dollar General sells products from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo. Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. Dollar General Corporation was founded in 1939.
ACTUAL SITE 11 NATIONAL NET LEASE GROUP
BRAND PROFILE
RETAIL PROFESSIONALS
275+
OFFICES
25+
LARGEST REAL ESTATE SERVICES FIRMin North America
exclusively dedicated to retail
#1
RETAIL TRANSACTIONS
in 2019 company wide
2100+
PROPERTIES SOLD
in 2019 NNLG
485
TRANSACTION VALUE in 2019 NNLG
$1.5B
SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.
This marketing material has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made
available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this marketing material is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions
presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this marketing material. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified
purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.
*Statistics are for 2019
SRSRE.COM/NNLG
