NNN Dollar General - Gary City, Texas
Single tenant.
Marketing description
Gary City is a small rural community located in Panola County, in the eastern part of Texas, near the Louisiana border. It lies approximately 10 miles south of Carthage and about 35 miles from Nacogdoches. Though small in population, Gary City offers a quiet, close-knit lifestyle surrounded by East Texas' natural beauty, pine forests, and agricultural land.
Gary City's economy is modest and largely based on agriculture, forestry, and small-scale local businesses. Cattle ranching, poultry farming, and hay production are common agricultural activities in and around the area. Timber and logging operations also contribute to the local economy, benefiting from the dense pine woods typical of East Texas. Due to its size, employment opportunities directly in Gary City are limited, with many residents commuting to nearby towns like Carthage or Henderson for work. Key employment sectors in the broader region include oil and gas services, education, healthcare, and public administration.
Investment highlights
- Dollar General has operated at this location for 6 years and has 9 years remaining on their current lease with 3 (5-year) options to extend
- The lease features 10% increases at the beginning of each option, growing NOI and hedging against inflation
- The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,580 location as of May 2025
- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- No landlord responsibilities
- Ideal, management-free investment for a passive investor
- Serves a wide rural trade area with limited retail competition Essential goods tenant providing consistent customer traffic Proximity to Carthage and regional industrial employers Stable, low-maintenance investment with a national credit tenant
- Dollar General is strategically fronting FM 10 which averages 1,500 VPD
- With extremely limited nearby competition, the subject property offers an immediate discount store option for highway travelers and locals alike
- The site is in close proximity to Gary Independent School (485 students), further increasing consumer traffic to the immediate trade area
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