Listed by Marcus & Millichap - Manhattan
$1,100,000
Dollar General - Long Lease - Low Price
Details
Property Type Retail
Sub Type Storefront, Dollar store
Square Footage 9,014
Net Rentable (SqFt) 9,014
Cap Rate 7.52%
NOI $82,704
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Expiration 04/29/2035
Remaining Term 8.9
Rent Bumps Yes
Lease Options 5, 5-Year
Pro-Forma Cap Rate 7.52%
Pro-Forma NOI $82,704
Class A
Year Built 2020
Acreage 1.600
Zoning Commercial
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Ground Lease No
North Carolina Location - Corporate Guarantee
Investment highlights
- Net Leased Dollar General w/Zero Landlord Responsibilities: Absolute NNN Dollar General with No Landlord Maintenance Located on a Heavily Trafficked Section of NC Hwy 55 West (3,300 Vehicles Per Day (VPD)) in New Bern, North Carolina
- +/- 9 Year Lease with Rent Increases in Each Option: Asset Constructed in 2020 Featuring +/- 9 Years of Base Lease Term Remaining and Multiple 5-Year Options (10% Rent Increases) Providing Long Term Security to Passive Investors and 1031 Exchange Buyers
- Corporate Guarantee: Lease Corporately Guaranteed by Dollar General, an American Chain of Variety Stores with Over 20,000 Locations Nationwide and an S&P Credit Rating of BBB
- Strategic Location with Limited Competition: Strategically Located as the Only Dollar General Located Within a 7 Mile Radius with Just One Family Dollar Located Within a Nine Mile Radius
- Steady Population Growth: Population Growth Projected to Continue at Nearly Two Percent Within a Seven Mile Radius of the Subject Property Between 2025 and 2030 Providing Additional Store Consumers
- Ideal Dollar General Demographics: Situated in an Area with Nearly 10,500 People Living Within a 7-Mile Radius with an Average Annual Household Income Exceeding $69,000
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$82,704.00
$6,892.00/mo
Valuation Metrics
0
DSCR
7.52%
Cap Rate
7.52%
ROI
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