Historical Retail Sale Listing - Established Well Located Dollar General- 9% Cap

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Established Well Located Dollar General- 9% Cap

4899 West 4th Street, Hattiesburg, MS 39402

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
Additional Sub-types:
Street Retail
Retail (Other)
Property Use Type:
Net Lease Investment with
9 years left on lease
Cap Rate:
9%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2004
Lot Size:
1 AC
Listing ID
17399578
Last Updated
over 1 year ago

Description

Bull Realty has been authorized to reduce the price on this established and successful Dollar General to a 9% cap rate. This 9,100 sq ft free standing store, built in 2004, is located in Hattiesburg, MS on a busy commercial artery. The site is approximately 1 acre and features a low maintenance concrete parking lot. Current net income, which is guaranteed by Dollar General, is $50,400 annually. As a result of strong store sales, Dollar General extended the initial NN lease term by 6.25 years to mid 2020 along with five 5-year renewal options, each featuring a 7% increase in rents. With this price reduction, minimal landlord responsibilities, and a successful national credit tenant, a good investment has become even better.

Dollar General is the largest small box discount retailer in the US. Headquartered in Goodlettsville, TN, (Nashville) the company was established in 1939. In April of 2012, Standard & Poors upgraded the company' s rating from BB+ to BBB-, reflecting the success and performance of this retailer with over 10,000 stores in 39 states

The subject property is located in West Hattiesburg, Lamar County, just north of the rapidly expanding retail corridor that includes Turtle Creek Mall and the 211-bed Wesley Medical Center. Hattiesburg is home to the University of Southern Mississippi and renowned for its historical district with Victorian-era homes. Centrally located and easily accessed from I-59 (two miles away), the property is less than two hours from Jackson, Meridian, Mobile and New Orleans. Traffic counts average 36,000 cars per day on I-59. Within a 3-mile radius, the population is 34,317 and has an average household income of $45,281.

Map of 4899 West 4th Street, Hattiesburg, MS 39402 (Lamar County)

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