Year Build: 2017
Building Size: 9,014 SqFt.
No of Stories: 0
Total Lot Area: 1.90 Acre
No of Parking: 0
No of Total Units: 0
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: A
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
LoudLister Net Lease is pleased to present this 9,014 SF Dollar General store located in Roanoke Rapids, NC. The property is encumbered with a Fifteen (15) Year Abso-lute NNN Lease, leaving zero landlord responsibilities. The lease contains Four(5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. Construction is complete, with the rent having commenced in May 2017.
This Dollar General is highly visible as it is strategically positioned on NC-48 in Roa-noke Rapids, NC. The five mile population from the site exceeds 28,000 while the two mile median household income exceeds $30,500 per year, making this loca-tion ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple owner-ship of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.40% cap rate based on NOI of $94,400.