Dollar General Center in Waynesboro, Tennessee
Retail | 21,007 SF
Marketing description
A three-tenant strip center anchored by Dollar General alongside two local businesses, prominently located along Highway 64 in Waynesboro, Tennessee. The property offers excellent visibility, convenient access, and ample parking.
The center consists of two separate detached buildings totaling ±21,007 SF:
±15,007 SF Building – Anchored by Dollar General (±13,507 SF) with an adjacent pet grooming business
±6,000 SF Building – Occupied by a local family health clinic
The site also offers a value-add opportunity, with additional land behind the center that may be sold separately or further developed.
The asking price was recently reduced to $595,000, reflecting an attractive 9.35% cap rate. At $28.32 per SF, pricing is well below replacement cost.
Investment highlights
Listing Price is $675,000
Gross Income as of 9/1/2023 will be $60,000/yr. and prior to 9/1/2023 is $56,400
Cap Rate as of 9/1/2023 will be 7.71%
Dollar General, who has been in the center since 1991, just signed a 5-Year lease extension as of 9/1/2023 occupies approx. 13,507 SF being approx. 64% of the Center
Faith and Family Health Clinic who just signed a new 3-Year lease as of 12/1/2022 occupies approx. 6,000 SF being approx. 28.5% of the Center
Happy Tails Grooming Salon, a long term tenant, who just signed a new 3-Year lease as of 12/1/2022 occupies approx. 1,500 SF being approx 7.14% of the Center
This site is in Wayne County and is approx. 105 miles southwest of Nashville,TN and approx. 135 miles east of Memphis, TN.
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