Historical Retail Sale Listing - Dollar General (2009 Construction)

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Dollar General (2009 Construction)

12399 NC Highway 210 South, Spring Lake, NC 28390

N/A

9,100 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
9,100 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Construction Status:
Under Construction/
Proposed
Cap Rate:
8.50%
Tenancy:
Single
Year Built:
2009
Listing ID
16275155
Last Updated
over 1 year ago

Highlights

  • New 2009 Construction
  • 15 Year Lease - 10% Rent Increase in Year 11 (Dollar General No Longer Offers this Lease Structure)
  • Strong National Brand - $10.46B in Sales (Fiscal 2008)
  • Five, 5-Year Option Periods (10% Rent Increase in Each)
  • Highly Visible Location
  • Corporately Guaranteed Lease

Description

The subject property is a new construction 9,100+/- square foot Dollar General store located on NC Highway 210 South, Spring Lake, NC 28390. The store is currently under construction, with completion scheduled for August 2009. This store is ideally positioned within a short distance from Fort Bragg, which is one of the largest and busiest military complexes in the world. More than 50,000 civilian and military personnel work at Fort Bragg.

Dollar General has signed a new 15-year NN lease. The lease offers a 10% rent increase in year 11. Additionally, the lease includes 5, 5-year option periods with 10% rent increases in each. In addition, the lease requires Dollar General to reimburse for Insurance and Tax costs. In regard to CAM, Dollar General will pay a flat $300 per month contribution through the end of the calendar year in which they open for business, then reimburse for actual permitted costs during the remaining term of the lease.

Fort Bragg is located just west of Fayetteville, North Carolina. One of the largest and busiest military complexes in the world, Fort Bragg hosts America's only airborne corps and airborne division, the "Green Berets" of the Special Operations Command, and the Army's largest support command. 82nd Airborne Division soldiers and others make 100,000 parachute jumps each year at Fort Bragg.

The Fort is a significant economic presence in North Carolina, contributing an estimated $4.1 billion annually to local communities.

Map of 12399 NC Highway 210 South, Spring Lake, NC 28390 (Harnett County)

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Created 6/11/2009