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Dollar General 31 Megan Ln 9,386 SF Retail Building Cullman, AL 35057 $699,000 ($74.47/SF) 9.08% Cap Rate
INVESTMENT HIGHLIGHTS
- 2006 Built-To-Suit Construction
- Minimal Landlord Responsibilities
- Located just off I-65 between Birmingham and Huntsville
- Low Price Point, High Yielding Investment Opportunity
EXECUTIVE SUMMARY
Dollar General has been successfully operating at this location for nearly twenty years. The current lease was extended for an addition five years and runs through May of 2028. Dollar General has five, five-year renewal options, each containing rental increases. The property is encumbered by a double net lease agreement where the landlord is responsible for roof, structure and parking lot. Dollar General handles insurance directly, reimburses landlord for real estate taxes and contributes $270 per month for common area maintenance. Additionally, the tenant reimburses landlord for the cost of minor repairs.
Cullman, Alabama serves as the county seat to Cullman County and is located under 60 miles north of Birmingham, Alabama and 54 miles south of Huntsville, Alabama. This location sits just off US 278 and Interstate 65, allowing for significant commuter traffic passing the store daily. Cullman has just over 20,000 residents, which represents moderate growth of 10% since 2020. This is a trend that is projected to continue through 2028.
PROPERTY FACTS
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Retailer
- -
- -
- -
DG is proud to be America’s neighborhood general store. They strive to make shopping hassle-free and affordable with convenient, easy-to-shop stores all across the states. DG's stores deliver everyday low prices on items including food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, seasonal items, paper products and much more from America’s most-trusted brands and products, along with high-quality private brands. From serving their customers with value and convenience and their employees with career opportunities to serving the communities they call home through literacy and education, Dollar General has been committed to its mission of Serving Others since the company’s founding in 1939.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Retailer | - | - | - |
PROPERTY TAXES
| Parcel Number | 22-03-05-0-001-029.007 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $134,960 |
PROPERTY TAXES
Presented by
Dollar General | 31 Megan Ln
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