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Dollar General Market 29725 Nelson Mountain Rd 10,640 SF Retail Building Albemarle, NC 28001 $2,339,200 ($219.85/SF) 6.75% Cap Rate
Investment Highlights
- Long-Term Lease with New Rental Escalations
- Clear Visibility & Access
- Passive NNN Lease
- Investment Grade Corporate Guaranty (S&P: BBB/Stable)
- Brand-New, Built-to-Suit Construction
- Growing Market
Executive Summary
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to present the opportunity to acquire the fee simple ownership interest in the brand new Dollar General Market property located at 29725 Nelson Mountain Rd in Albemarle, NC (“Property”). The Property comprises a 10,640 square foot building on 1.99 acres of land. The Property is was constructed in September 2024 and features upgraded brick and Hardie plank construction, offering higher quality than the traditional metal exterior model. The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 20,000 locations in 48 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property is situated at the intersection of Nelson Mountain Rd and NC-73, providing ease of sight and access. The Property provides entirely passive ownership and an income stream net of all operating expenses. Tenant is subject to a brand-new 15-year lease, providing income security through September 2039 and rental escalations of 5% every five years including in each of the five, five-year renewal options. This Offering is a rare opportunity to invest in a highly passive asset backed by a top-rated national tenant.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
10,640 SF
Building Class
B
Year Built
2024
Price
$2,339,200
Price Per SF
$219.85
Cap Rate
6.75%
NOI
$157,871
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.00 AC
Amenities
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
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 Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 6529-04-60-3030 | Improvements Assessment | $0 |
| Land Assessment | $60,550 | Total Assessment | $60,550 |
Property Taxes
Parcel Number
6529-04-60-3030
Land Assessment
$60,550
Improvements Assessment
$0
Total Assessment
$60,550
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Dollar General Market | 29725 Nelson Mountain Rd
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