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Dollar General 1022 Western Ave 9,026 SF 100% Leased Retail Building Manchester, ME 04351 $1,456,000 ($161.31/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Single-tenant Dollar General with a corporate-backed absolute NNN lease — zero landlord maintenance or expense responsibilities
- Three (3) five-year renewal options, each with 10% rent increases
- Positioned along Western Avenue (U.S. Route 202), the primary retail corridor in the trade area
- ±6.5 years remaining in the initial 15-year term, expiring January 31, 2032
- Dollar General Corporation (NYSE: DG) — Fortune 500, investment-grade BBB rating (S&P), 21,000+ locations nationwide
- Strong daily traffic counts of ±18,496 vehicles per day (CoStar)
EXECUTIVE SUMMARY
This corporate-leased Dollar General has ±6.5 years remaining on its 15-year absolute NNN lease. Positioned on Western Avenue (U.S. Route 202), Manchester’s primary commercial corridor, the property offers excellent visibility, strong traffic counts, and easy access. Just 5.5 miles from Downtown Augusta, the location benefits from a stable regional economy anchored by government, healthcare, and education, ensuring consistent customer demand.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
9,026 SF
Year Built
2017
Price
$1,456,000
Price Per SF
$161.31
Cap Rate
7.75%
NOI
$112,848
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.58 AC
Zoning
Commercial
Parking
38 Spaces (4.21 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
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Dollar General | 1022 Western Ave
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