This Retail Property is Off-Market.

116 East Lytle Street
Fostoria, OH 44830 ·

8,125 SF · Retail For Sale

N/A

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Dollar General

Price N/A Cap Rate 7.75%
Building Size 8,125 SF Tenancy Single
Property Type Retail Year Built 2004
Property Sub-type Free Standing Bldg Lot Size 0.70 AC
Property Use Type Investment
Listing ID: 14203776 Date Created: 05/09/2005 Last Updated: 11/03/2005

Description

The subject property is approximately an 8,125 square foot freestanding Dollar General located on the north side of East Lytle Street in Fostoria, Ohio. The Dollar General has a street address of 166 East Lytle Street Fostoria, Ohio 44830.

The store is accompanied by a 10 NN lease, signed by the parent company, with rent bumps after the initial lease term as well as in the option periods. The lease commenced on December 1st, 2004 when the building was completed. There are 5, 5-year options that follow the initial 10 year lease. In addition to the base rent payment the tenant is also required to pay the landlord equal to 2.5% of the gross sales in excess of the natural break point which is $2,424,000 in the initial term.

Today, Dollar General's network of more than 7,200 company-owned retail outlets is the largest of any retailer in the nation. Dollar General employees number more than 57,000 in 30 states. During 2004, the company has opened 722 stores.

Fostoria, located in the middle of the northern half of Ohio, is known for being a community where the workforce is strong, smart and plentiful; where neighbors greet each other by name; where businesses work together for the comon good, and where new industries are not simply welcomed, but encouraged and nurtured. Fostoria is a place where town and country meet in the interest of good business and good living and where families can put down roots and have room to grow.

Fostoria is a town with a well rounded and diverse educational background. Within the Fostoria area, there are 4 elementary schools, 1 middle school, 1 high school, and 7 technical and vocational high schools. In addition, there ar nearly a dozen four-year colleges and universities within a 1 hour drive and more than a dozen two-year colleges within a 90 minute drive.

In Fostoria, you will find quality schools, fine restaurants, and shops. All this is appreciated even more without all the noise traffic and chaos. Of course if there is an itch for the big city life, Toledo, Cleveland, Detroit, and Columbus are all just a short drive away.

Highlights

  • 10 Year Lease Guaranteed by Strong Tenant
  • Percentage Rent in Addition to Base Rent
  • S& P BBB - rated tenant
  • Rent Bumps After 10 Years and Every 5 Years Thereafter
  • Lessee agrees to make payments to the Lessor for parking lot maintenance
  • Brand New Location- Opened in December 2004

Research

116 East Lytle Street, Fostoria, OH 44830 (Seneca County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Fostoria Market Trends - Asking price index trends, sale price trends, asking rent trends

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