2185 Highway 19 E
Elizabethton, TN 37643
Dollar General · Retail Property For Sale

Marcus & Millichap is pleased to exclusively offer for sale this absolute triple-net leased Dollar General in Elizabethton, Tennessee. The 9,100-square-foot building is a relocation store for Dollar General built in 2012. With more than eight years remaining on its corporate guaranteed lease, this property is well positioned as a stable, long-term investment. Following the expiration of the base term of the lease, there are five, five-year options to renew. The lease has a rare three percent rent increase in 2022 with 10 percent rent increases at the start of each five-year option. Dollar General has over 15,000 stores and counting in 44 states. The company has built an impressive track record of growth in which net sales rose 9.2 percent in 2018. Their continued growth and track record of success has earned Dollar General respect among some of the nation’s largest financial institutions. This newer construction Dollar General is ideally positioned right in front of a large 175,000-square-foot manufacturing facility that employs over 350 workers. The facility has plans to expand its operations onto an adjacent 6-acre parcel of land. Once completed, the expansion would add 20 more jobs with the potential for further expansion in the future. The subject property is located in Elizabethton, Tennessee which has a population density that is eight times higher than the Tennessee average. Elizabethton is the county seat of Carter County and is part of the Johnson City MSA. The average household income and average age within a seven-mile radius of the property are $47,702 and 44 years, respectively, which are ideal trade demographics for Dollar General. This store captures a significant share of the market by being the only national discount store within a two-mile radius of the property.