This Retail Property is Off-Market.

12399 NC Highway 210 South
Spring Lake, NC 28390 ·

9,100 SF · Retail For Sale

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Dollar General (2009 Construction)

Price N/A Construction Status Under Construction/Proposed
Building Size 9,100 SF Cap Rate 8.50%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2009
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 16275155 Date Created: 06/11/2009 Last Updated: 05/03/2010

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.

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

Research

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

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