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8823 W Pine St 8,640 SF Retail Building Lowgap, NC 27024 $1,270,000 ($146.99/SF) 7.20% Cap Rate
Investment Highlights
- 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
- The Only Dollar Store Serving the Community!
- 3 (5 Year) Options | 8% Increases At Each Option
- 8% Rent Increases Every 5 Years
- 2026 Retrofit Construction | Opening in May
- Three Mile Household Income $61,784
Executive Summary
Fortis Net Lease is pleased to present this 2026 retrofit Dollar General store located in Lowgap, North Carolina. The property offers a Ten (10) Year Double Net (NN) Lease, leaving minimal landlord responsibilities (Tenant pays base rent, property taxes, insurance, limited CAM/parking). The lease contains 8% rental rate increases every 5 years including at each of the 3 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with rent start & store opening on track for May 2026.
This Dollar General is highly visible as it is strategically positioned on W Pine Street seeing 3,725 cars per day & is the only dollar store serving the community. The site is nestled amongst residential homes making it a crucial stop for the area. The 10 mile population from the site is 20,924 while the 3 mile average household income is $61,784 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 7.20% cap rate based on NOI of $91,452.
This Dollar General is highly visible as it is strategically positioned on W Pine Street seeing 3,725 cars per day & is the only dollar store serving the community. The site is nestled amongst residential homes making it a crucial stop for the area. The 10 mile population from the site is 20,924 while the 3 mile average household income is $61,784 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 7.20% cap rate based on NOI of $91,452.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,640 SF
Building Class
C
Year Built/Renovated
2018/2026
Price
$1,270,000
Price Per SF
$146.99
Cap Rate
7.20%
NOI
$91,440
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.62 AC
Zoning
HB-C - Highway Business
Parking
26 Spaces (3.1 Spaces per 1,000 SF Leased)
Frontage
347’ on W Pine St
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 4051-03-14-3183 | Improvements Assessment | $1,095,410 |
| Land Assessment | $126,000 | Total Assessment | $1,221,410 |
Property Taxes
Parcel Number
4051-03-14-3183
Land Assessment
$126,000
Improvements Assessment
$1,095,410
Total Assessment
$1,221,410
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8823 W Pine St
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