238 Harless Dr
Retail | 7.66% CAP | 9,026 SqFt
Marketing description
WCB Commercial Real Estate is pleased to present for sale the fee simple interest in a single-tenant net leased investment property located at 238 Harless Drive, Dryden, VA 24243. The property is 100% leased to Dollar General Corporation (NYSE: DG), a publicly traded, investment-grade tenant with over 19,000 locations nationwide. Dollar General has occupied this location since 2011 and is currently operating under a lease extended through June 30, 2032, providing approximately 6.5 years of remaining primary term, with four (4) five-year renewal options remaining. The ±9,026 square foot building was constructed in 2011 as a build-to-suit for Dollar General and is situated on a ±1.03-acre parcel. The lease is structured as triple net (NNN), requiring the tenant to pay all property-related expenses, including taxes, insurance, maintenance, roof, structure, and HVAC — offering a true passive ownership experience. The asset currently generates $76,177 in annual base rent ($8.44/SF). The site has performed consistently since inception and benefits from strong visibility and access along U.S. Route 58, a regional transportation corridor serving Lee County and surrounding communities. Anchored by a long-standing, investment-grade tenant with a recession-resistant operating model focused on essential goods, this offering presents an exceptional opportunity to acquire a stable, income-generating asset in a rural market with minimal landlord obligations and dependable long-term cash flow.
Investment highlights
6.5 years remaining term (June 30, 2032) with 4 five (5) year options.
Lease Type: NNN
Tenant: Dollar General Corporation (NYSE: DG)
Credit Rating: BBB (S&P), Baa2 (Moody’s)
Corporate guaranteed lease
Leased to Dollar General Corporation (NYSE: DG), the nation’s largest small-box retailer with over 19,000 stores nationwide and investment grade credit ratings of BBB by Standard & Poor’s and Baa2 by Moody’s. The corporate-backed lease provides exceptional credit quality and income security for investors seeking long-term reliability
Absolute NNN lease
The lease is structured as an absolute triple net (NNN), requiring the tenant to pay all operating expenses including real estate taxes, property insurance, CAM, roof, structure, and HVAC maintenance. This passive lease structure offers zero landlord responsibilities, delivering a true “hands-off” investment.
Strong occupancy history
Dollar General has operated successfully at this location since 2011, demonstrating a long-term commitment to the site. The tenant remains in its original 15-year lease term, set to expire in July 2026, with four additional five-year renewal options available — underscoring confidence in this location’s ongoing performance.
Built-to-suit construction
Built-to-Suit Construction The property was custom-built for Dollar General in 2011 to their standard 9,026 square foot prototype specifications. The design, layout, and site infrastructure were developed specifically for Dollar General’s operational model, enhancing the longevity and usability of the asset.
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