Listed by Marcus & Millichap - San Francisco
$1,500,000
Dollar General - Portsmouth, VA
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 7,500
Net Rentable (SqFt) 7,500
Cap Rate 6.85%
NOI $102,420
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Expiration 12/01/2032
Remaining Term 6.5
Rent Bumps Yes
Lease Options Five, 5-year
Year Built 2017
Acreage 0.680
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/01/2017
Ground Lease No
UPGRADED CONSTRUCTION | CORPORATE GUARANTY
Marketing description
Upgraded construction Dollar General prototype with 6.5+ years remaining on an absolute NNN lease, zero landlord responsibilities, and a separate corporate guaranty. Situated in a dense Portsmouth neighborhood minutes from Norfolk Naval Shipyard — the largest naval industrial facility in the country — with 85,000+ residents within 5 miles and five 5-year renewal options at 10% increases each.
Investment highlights
- Upgraded Construction Prototype
- Absolute NNN Lease – Zero Landlord Responsibilities
- Corporate Guaranty from Dollar General Corporation
- Five, 5-year Options with 10% Rental Increases
- Located in a dense residential neighborhood across from Lexington Reserve Apartments (105 units)
- Over 85,000 residents and average household income of $80,000 within 5 miles
- Minutes from Norfolk Naval Shipyard - the largest naval industrial facility in the country, home to 17,000 personnel
- Positioned off of Frederick Boulevard (20,000+ VPD) between three signalized intersections
Listing Contacts
Listed by Marcus & Millichap - San Francisco
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$102,420.00
$8,535.00/mo
Valuation Metrics
0
DSCR
6.83%
Cap Rate
6.83%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
