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Dollar General | Corp NN w/ 6+ Yrs 23412 FM 1485 9,020 SF Retail Building New Caney, TX 77357 $920,727 ($102.08/SF) 7.15% Cap Rate
Investment Highlights
- 6+ Years Remaining | Scheduled Rental Increases | Corporate Guaranteed
- Near Signalized, Hard Corner Intersection | Interstate 69 | Surrounding Retailers | New Caney Elementary School
- NN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Local Demographics in 5-mile Trade Area | Six-Figure Incomes
Executive Summary
• Dollar General has 6+ years remaining on their current lease with 2 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option
• The market rent in the area is $20 Sq/ft vs the property rent $7.30 Sq/ft
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 location as of August 2024
• The lease features 10% rental increases at the beginning of each option
• The market rent in the area is $20 Sq/ft vs the property rent $7.30 Sq/ft
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 location as of August 2024
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,020 SF
Building Class
B
Year Built
2005
Price
$920,727
Price Per SF
$102.08
Cap Rate
7.15%
NOI
$65,832
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.53 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial
Parking
31 Spaces (3.44 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Number | 0193-00-01555 | Improvements Assessment | $1,751,059 |
| Land Assessment | $311,817 | Total Assessment | $2,062,876 |
Property Taxes
Parcel Number
0193-00-01555
Land Assessment
$311,817
Improvements Assessment
$1,751,059
Total Assessment
$2,062,876
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Dollar General | Corp NN w/ 6+ Yrs | 23412 FM 1485
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