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Dollar General 116 N Magnolia St 16,800 SF Retail Building Gramercy, LA 70052 $739,500 ($44.02/SF) 8% Cap Rate
Investment Highlights
- Long Term Tenant
- Brand New Roof & Store Refresh
- Investment Grade Credit
- Plus Size Store
- Strong Historical Sales
- Dominant Market-Share Location
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 116 N Magnolia Street in Gramercy, Louisiana (the “Property”). Dollar General has been at this location since 1996 and recently extended their double net lease demonstrating their commitment to this location and market. Dollar General has 4+ years of term remaining and is followed by six, 5-year renewal options. The lease features 10% rent increases at the start of each renewal option.
The Property benefits from a corner location at the intersection of N Magnolia Street and Main Street (LA Route 641), the primary commercial corridor traversing Gramercy, LA. Gramercy is located along the banks of the Mississippi River approximately 45 miles west of New Orleans.
The Property benefits from a corner location at the intersection of N Magnolia Street and Main Street (LA Route 641), the primary commercial corridor traversing Gramercy, LA. Gramercy is located along the banks of the Mississippi River approximately 45 miles west of New Orleans.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,800 SF
Year Built/Renovated
1970/2013
Price
$739,500
Price Per SF
$44.02
Cap Rate
8%
NOI
$59,160
Tenancy
Single
Building Height
1 Story
Building FAR
0.39
Lot Size
1.00 AC
Frontage
310’ on MAGNOLIA ST
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
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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.
- Woods A L Inc
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - | ||
| Woods A L Inc | - | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 100121100 | Improvements Assessment | $55,500 |
| Land Assessment | $5,250 | Total Assessment | $60,750 |
Property Taxes
Parcel Number
100121100
Land Assessment
$5,250
Improvements Assessment
$55,500
Total Assessment
$60,750
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