OFFERING MEMORANDUM
DOLLAR GENERAL 1621 W ALEXIS ROAD, TOLEDO, OH 43612
PRICE NOI CAP RATE $ 2,268,175 | $ 116,811 | 5.15%
ACTUAL SITE
24500 CHAGRIN BLVD. #100 | BEACHWOOD, OH 44122 | 216-342-2523 ANCHORCLEVELAND.COM TOLEDO, OHIO
EXCLUSIVELY MARKETED BY:
DOUG HOLTZMAN [email protected] 216-342-2242 MAKE IT HAPPEN WEAnchor Cleveland is a retail and investment real estate brokerage industry leader. We specialize in tenant and landlord representation, shopping center leasing, land sales and assemblage, investment sales, consulting services and property management.
We represent premier national retailers, restaurants, landlords, TORI NOOK property owners, and developers in lease and sale negotiations, land [email protected] acquisitions, dispositions, and assemblages, as well as investment 216-342-2550 sales. Founded on the principles of integrity and uncompromising commitment to service, our mission is to become a true business partner, providing the market insight and retail expertise to help our clients reach and exceed their goals. Discover Anchor Cleveland’s
TORI NOOK PRINCIPAL, ANCHOR CLEVELAND founded on the principals of integrity and our client’s needs. MISSIONOur mission is to become a true business partner & COMMITTED to your needs!
Investment Sales • AnchorCleveland.com | 2 DISCLAIMER STATEMENT
Although effort has been made to provide accurate information, neither the owner nor Anchor Cleveland 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 Anchor Cleveland represents that this document 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 exact time the evaluations were undertaken. They do not purport to redact changes in the economic performance of the property or the business activities of the owner since the date of preparation of this document. The projected economic performance of the property, competitive sub-market 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.
Investment Sales • AnchorCleveland.com | 3 TABLE OF CONTENTS
ANCHOR CLEVELAND We Make it Happen
P • 5-6 INVESTMENT SUMMARY Offering Highlights
P • 7-12 VISUAL Aerials, Maps, and Demographics
P • 13 TENANT OVERVIEW Dollar General Overview
P • 14 MARKET OVERVIEW Toledo, Ohio Overview
The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC INVESTMENT SUMMARY Anchor Cleveland is pleased to present the opportunity to acquire a free-standing Dollar General located at 1621 W Alexis Road, Toledo, OH 43612. This brand new construction store is located on a major east-west thoroughfare in a densely populated area of Toledo with many surrounding businesses, including a large GM Transmission Operation plant.
The original lease term is 15 years with 5, 5-year options that include 10% rent bumps in each.
Dollar General has over 17,266 stores in 46 states as of February 26, 2021 with over $33.7B in sales in fiscal 2020.
INVESTMENT HIGHLIGHTS • Price: $2,268,175
• Cap Rate: 5.15%
• NOI: $116,811
• Rent: $9,734.25/mo = $116,811/yr ($12.94 psf)
• Building Size: 9,026 SF
• Acreage: 1.6 acres
• Lease: NNN
• No landlord expenses
• Strong demographics
• 15 years with 5, 5-year options that include 10% rent bumps in each
Investment Sales • AnchorCleveland.com | 5 HIGHLIGHTS
BRAND NE CON TR CT ON DOLLAR ENERAL
INVESTMENT OVERVIEW AB OL TE NNN LEA E TR CT RE DOLLAR GENERAL 1 21 ALE ROAD, TOLEDO, OH 12 TRON DE O RA H C
RRO NDED B AN B NE E PRICE CAP RATE AND ROO TO
NE T DOOR TO O ERTRA N LANT OVER 1 ARE OOT AC L T .
LEASABLE SQUARE FOOTAGE: ACREAGE: NET OPERATING INCOME:
,02 1. ACRE 11 , 11
BUILT: LEASE TYPE: RENT PSF:
2021 NNN LEA E 12.
LEASE EXPIRATION: RENT INCREASES: OPTIONS:
NE 0, 20 10 RENT NCREA E N , R O T ON EACH O T ON
Investment Sales • AnchorCleveland.com | 6 SITE N Anchor TRADE 1621AERIAL W Alexis Rd. | TOLEDO, OH 43612 CLE VELAND
N MICHIGAN-OHIO STATE BORDER
SUPER FITNESS CENTER SITE S DIXIE HWY
E ALEXIS RD 21,258 VPD 21,156 VPD W ALEXIS RD
GM POWERTRAIN TRANSMISSIONS S RD EXI S
W AL W N DETROIT AVE
MIRACLE MILE
W LASKEY RD
TREMAINSVILLE RD
TRADE AREA AERIAL 24500 CHAGRIN BLVD, SUITE 100, BEACHWOOD, OH 44122 | 216-342-2523 | WWW.ANCHORCLEVELAND.COM The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC SITE Anchor N 1621 W Alexis Rd. | TOLEDO, OH 43612 CLE VELAND SITE PLAN
N
SITE
SITE PLANThe information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors,24500 omissions, CHAGRIN prior saleBLVD, and SUITE withdrawal 100, BEACHWOOD, from the market OH without 44122 notice. | 216-342-2523 Broker has |made WWW.ANCHORCLEVELAND.COM no investigation and The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions,makes prior no sale representation and withdrawal from of the the market property. without notice. © 2021 Broker ANCHOR has made no investigationCLEVELAND and makes LLC no representation of the property. LOCATION MAP
TOLEDO 6.4 MILES
The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC DEMOGRAPHICS
SUMMARY PROFILE 2000-2010 Census, 2020 Estimates with 2025 Projections Calculated using Weighted Block Centroid from Block Groups
Lat/Lon: 41.721/-83.5837 RS1 1621 W Alexis Rd 1 mi radius 3 mi radius 5 mi radius Toledo, OH 43612
2020 Estimated Population 0 T 8,875 83,974 182,891 2025 Projected Population 0 T 8,375 81,218 183,546 2010 Census Population 0 T 9,162 86,123 189,923 2000 Census Population 0 T 9,742 90,375 202,644
Projected Annual Growth 2020 to 2025 - -1.1% -0.7% -
POPULATION Historical Annual Growth 2000 to 2020 - -0.4% -0.4% -0.5%
2020 Median Age 37.0 38.0 38.2
2020 Estimated Households 0 T 3,904 36,140 76,360 2025 Projected Households 0 T 3,746 35,592 77,902 2010 Census Households 0 T 3,907 35,820 76,732 2000 Census Households 0 T 4,214 37,374 81,067
Projected Annual Growth 2020 to 2025 - -0.8% -0.3% 0.4% HOUSEHOLDS Historical Annual Growth 2000 to 2020 - -0.4% -0.2% -0.3%
2020 Estimated White - 82.0% 82.5% 69.8% 2020 Estimated Black or African American - 11.3% 10.7% 23.2% 2020 Estimated Asian or Pacific Islander - 0.6% 0.9% 1.4% 2020 Estimated American Indian or Native Alaskan - 0.2% 0.3% 0.3% - 5.9% 5.7% 5.3%
RACE AND RACE ETHNICITY 2020 Estimated Other Races
2020 Estimated Hispanic - 6.2% 6.4% 5.8%
2020 Estimated Average Household Income $0 T $65,746 $68,695 $70,398 2020 Estimated Median Household Income $0 T $49,770 $55,851 $55,514
INCOME 2020 Estimated Per Capita Income $0 T $28,921 $29,584 $29,613
2020 Estimated Elementary (Grade Level 0 to 8) - 2.5% 2.0% 2.4% 2020 Estimated Some High School (Grade Level 9 to 11) - 6.8% 6.4% 7.9% 2020 Estimated High School Graduate - 36.9% 34.5% 31.4% This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty. or representation without provided is herein information The reliable. be to deemed sources government and private from data using produced was report This 2020 Estimated Some College - 28.0% 25.7% 24.5% 2020 Estimated Associates Degree Only - 10.0% 10.9% 10.0% (AGE 25+) EDUCATION 2020 Estimated Bachelors Degree Only - 10.7% 13.7% 15.1% 2020 Estimated Graduate Degree - 5.1% 6.7% 8.8%
2020 Estimated Total Businesses 0 T 269 2,212 5,653 2020 Estimated Total Employees 0 T 3,095 25,315 69,169 2020 Estimated Employee Population per Business - 11.5 11.4 12.2
BUSINESS 2020 Estimated Residential Population per Business - 32.9 38.0 32.4
©2021, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 11/2020, TIGER Geography
The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC TENANT OVERVIEW
DOLLAR GENERAL
Dollar General Corporation (NASDQ: DG) was founded in 1939 and has been delivering value to shoppers for over 75 years. Dollar General helps shoppers save time and save money.
Dollar General is known for offering products that are frequently OWNERSHIP TENANT // GUARANTEE used and replenished, such as food, snacks, health and beauty aids, PUBLIC CORPORATE cleaning supplies, basic apparel, housewares and seasonal items at low everyday prices in convenient neighborhood locations. # OF LOCATIONS HEADQUARTERS 17,266 + Goodlettsville, TN
Dollar General has over 17,266 stores in 46 states as of February 26, YEAR FOUNDED 2021 with over $33.7B in sales in fiscal 2020. For fiscal 2018, 1939 Dollar General executed approximately 2,000 real estate projects comprised of 900 new stories, 1,000 store remodels and 100 store WEBSITE relocations. In addition to high quality private brands, Dollar General WWW.DOLLARGENERAL.COM sells products from America's most-trusted brands such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg's, General Mills, and PepsiCo.
Investment Sales • AnchorCleveland.com | 11 TOLEDO, OH OVERVIEW
Toledo is the county seat of Lucas County, Ohio. A major Midwestern United States port city, Toledo is the fourth- most-populous city in the state of Ohio, after Columbus, Cleveland, and Cincinnati.
With a population of 274,975, it is the principal city of the Toledo metropolitan area. It also serves as a major trade center for the Midwest; its port is the fifth busiest in the Great Lakes and 54th biggest in the United States. The city was founded in 1833 on the west bank of the Maumee River, and originally incorporated as part of Monroe County, Michigan Territory. It was re-founded in 1837, after the conclusion of the Toledo War, when it was incorporated in Ohio.
After the 1845 completion of the Miami and Erie Canal, Toledo grew quickly; it also benefited from its position on the railway line between New York City and Chicago. The first of many glass manufacturers arrived in the 1880s, eventually earning Toledo its nickname: “The Glass City.” It has since become a city with a distinctive and growing art community, auto assembly businesses, education, thriving healthcare, and well-supported local sports teams. Downtown Toledo has been subject to major revitalization efforts, allowing a bustling entertainment district. Toledo is the 71st- largest city in the United States.
Sources: Wikipedia - www.en.wikipedia.org/
Investment Sales • AnchorCleveland.com | 12 Although effort has been made to provide accurate information, neither the owner nor Anchor Cleveland 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 Anchor Cleveland represents that this document 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 exact time the evaluations were undertaken. They do not purport to redact changes in the economic performance of the property or the business activities of the owner since the date of preparation of this document. The projected economic performance of the property, competitive sub-market 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.
THANK YOU! 24500 CHAGRIN BLVD. #100 | BEACHWOOD, OH 44122 | 216-342-2523 ANCHORCLEVELAND.COM