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Dollar General 2147 Watts Bar Hwy 9,026 SF 100% Leased Retail Building Spring City, TN 37381 $1,314,475 ($145.63/SF) 7.15% Cap Rate
Investment Highlights
- 2018 build-to-suit construction for Dollar General
- ±7.5 years remaining on an initial 15-year lease, which includes Five, 5-year extension options
- Corporately guaranteed lease from Dollar General Corporation (S&P: BBB)
- Attractive 7.15% cap rate for a stabilized deal
- 10% rent increases in each of the extension periods
- Tennessee is an income tax free state
Executive Summary
Broker of Record
Hutt Cooke
License # 263667, 356505 (TN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Hutt Cooke
License # 263667, 356505 (TN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
9,026 SF
Building Class
B
Year Built
2018
Price
$1,314,475
Price Per SF
$145.63
Cap Rate
7.15%
NOI
$93,985
Percent Leased
100%
Building Height
1 Story
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 043-083.00 | Improvements Assessment | $283,800 |
| Land Assessment | $47,840 | Total Assessment | $331,640 |
Property Taxes
Parcel Number
043-083.00
Land Assessment
$47,840
Improvements Assessment
$283,800
Total Assessment
$331,640
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Dollar General | 2147 Watts Bar Hwy
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