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Dollar General 1715 Connelly Springs Rd 9,014 SF Retail Building Lenoir, NC 28645 $887,273 ($98.43/SF) 8.25% Cap Rate
Investment Highlights
- Nearly two decades of operation; recent lease extension with ±5.3 years remaining term.
- Ranks in top 79th percentile nationally and top 83rd percentile within North Carolina.
- Investment-grade credit ratings from S&P Global; 20,000+ locations across 48 states.
- Two additional 5-year renewal options with 10% rental increases in option periods.
- Corporately guaranteed by Dollar General Corporation, a Fortune 100 company.
- 41,749 residents within 5-mile radius; ~15 miles from Morganton, ~18 miles from Hickory.
Executive Summary
Gerard Hamas
License # 362768, C42113 (NC)
Matthews of North Carolina, LLC
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203
(866) 889-0550
License # 362768, C42113 (NC)
Matthews of North Carolina, LLC
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,014 SF
Building Class
B
Year Built
2005
Price
$887,273
Price Per SF
$98.43
Cap Rate
8.25%
NOI
$73,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.00 AC
Opportunity Zone
Yes
Frontage
150’ on Dyson Rd
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 11-3-1-3 | Improvements Assessment | $116,700 |
| Land Assessment | $15,900 | Total Assessment | $132,600 |
Property Taxes
Parcel Number
11-3-1-3
Land Assessment
$15,900
Improvements Assessment
$116,700
Total Assessment
$132,600
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