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4249 Highway 12
Starks, LA 70661
Dollar General Net Lease Investment · Retail Property For Sale
PROPERTY FACTS
ABOUT 4249 HIGHWAY 12 , STARKS, LA 70661
This Dollar General, built in 2003, is a proven and value priced net lease offering. This NN lease is currently in its first 5-year option period. Dollar General exercised their second renewal option early, thereby extending the lease term through April 2023 with one 5-year option remaining. The lease contains a percentage rent clause, and stores sales have consistently exceeded the threshold level required to pay percentage rent. Percentage rent payments have averaged almost $9,000 annually for the past 5 years. Base rent for 2018 will be $36,776. Coupled with a conservative estimate of $8,000 for annual percentage rent, the projected cap rate is over 9.1%! Landlord responsibilities under the NN lease include roof, structure, parking lot, and repairs over $750 per occurrence. The parking lot was re-striped in July 2017. The store is on Dollar General's National Insurance Program and Dollar General fully reimburses the Landlord for property taxes. Dollar General contributes $200 per month towards parking lot maintenance.
PROPERTY TAXES
| Parcel Number | 01101269 | Improvements Assessment | $0 |
| Land Assessment | $600 | Total Assessment | $600 |
PROPERTY TAXES
