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Dollar General 1112 Park Springs Rd 9,100 SF Retail Building Providence, NC 27315 $1,429,241 ($157.06/SF) 7.25% Cap Rate
Investment Highlights
- Absolute NNN Lease offering hands-off investment with tenant responsible for all expenses
- Strategic location along NC Highway 86, 5 miles south of Danville, VA
- Only major discount retailer in immediate Providence area serving surrounding community
- Corporate Guarantee by Dollar General Corporation, Fortune 100 company with BBB credit rating
- Recession-resistant tenant classified as essential retailer during COVID-19 pandemic
- ±8.7 years remaining on lease with five 5-year renewal options at 10% increases
Executive Summary
Broker Of Record
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
9,100 SF
Building Class
B
Year Built
2019
Price
$1,429,241
Price Per SF
$157.06
Cap Rate
7.25%
NOI
$103,620
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.60 AC
Opportunity Zone
Yes
Zoning
C - Retail Trade
Frontage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $11.40
- Triple Net
- Feb 2035
Dollar General began in 1939 as J.L. Turner and Son Wholesale Company, a dry-goods business started by J.L. Turner and Cal Turner Sr., and the first Dollar General store opened in the mid-1950s. The company operates a discount retail model through Dollar General, DG Market, DGX, and pOpshelf formats, serving customers with food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, seasonal décor, private brands, and national labels. Dollar General supports online shopping and positions itself around affordable everyday goods and community-focused services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $11.40 | Triple Net | Feb 2035 |
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 0049.00.00.0046.0000 | Improvements Assessment | $447,188 |
| Land Assessment | $179,200 | Total Assessment | $626,388 |
Property Taxes
Parcel Number
0049.00.00.0046.0000
Land Assessment
$179,200
Improvements Assessment
$447,188
Total Assessment
$626,388
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