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DG downtown w (2) 5 yr. Options Highway 1 N 8,000 SF Retail Building Vass, NC 28394 $628,000 ($78.50/SF) 8.91% Cap Rate
Investment Highlights
- 23 yr. tenancy; early renewal; invest grade; the core of the business district of Vass.*
Executive Summary
****** PLEASE READ BELOW *******
[ $ 628,000 offer only; if inspecting, 15 calendar days; No nego after inspex; Estoppel t/a is 25 bus days; seller doesn’t have to sell; Updated Jan 31, 2025...If you're a residential broker, please call first.* ]
Dollar General # 7052 with a 10 yr. NN corp. guaranteed lease, extended thru 2029, has (2) five-year options with 10 % rental increases.
Dollar General (NYSE: DG; S&P – BBB; Fortune # 104) has over 21,000 locations in 48 states, boasting a $ 15.8B market cap. (2024)
Store located in the epicenter (1 off the Circle K Store) of Vass’ city limits. [US # 1 N. (BUS.) @ Main St / NC # 690
Over 63 % of area households earn less than $ 74,000 / yr. making this location ideal for a discount store outlet of necessities.
Early (Jan ‘24) renewal extension shows tenant remains committed to this location for the exceedingly long run.
Over 24,900 consumers live within 5 miles of store, having a population growth of 11 % since 2019.
Over 19,300 employees live within 5 miles of store
In Dec ’24, the store had 6500 visits / 4400 visitors, staying an average of 13 mins. / visit. (VF = 1.48) [Placer a.i.]
Exposure to over 6000 AADT’s at the intersection of US # 1 N.(BUS.) and NC # 690 (Main St.) [NCDOT]
Excellent for a 1031 tax deferred exchange replacement property or for a self-funded acquisition preserving a long-term stable income.
An E-commerce, economic recession, market crash, credit crisis and COVID proof investment capable of multi-generational income
[ $ 628,000 offer only; if inspecting, 15 calendar days; No nego after inspex; Estoppel t/a is 25 bus days; seller doesn’t have to sell; Updated Jan 31, 2025...If you're a residential broker, please call first.* ]
Dollar General # 7052 with a 10 yr. NN corp. guaranteed lease, extended thru 2029, has (2) five-year options with 10 % rental increases.
Dollar General (NYSE: DG; S&P – BBB; Fortune # 104) has over 21,000 locations in 48 states, boasting a $ 15.8B market cap. (2024)
Store located in the epicenter (1 off the Circle K Store) of Vass’ city limits. [US # 1 N. (BUS.) @ Main St / NC # 690
Over 63 % of area households earn less than $ 74,000 / yr. making this location ideal for a discount store outlet of necessities.
Early (Jan ‘24) renewal extension shows tenant remains committed to this location for the exceedingly long run.
Over 24,900 consumers live within 5 miles of store, having a population growth of 11 % since 2019.
Over 19,300 employees live within 5 miles of store
In Dec ’24, the store had 6500 visits / 4400 visitors, staying an average of 13 mins. / visit. (VF = 1.48) [Placer a.i.]
Exposure to over 6000 AADT’s at the intersection of US # 1 N.(BUS.) and NC # 690 (Main St.) [NCDOT]
Excellent for a 1031 tax deferred exchange replacement property or for a self-funded acquisition preserving a long-term stable income.
An E-commerce, economic recession, market crash, credit crisis and COVID proof investment capable of multi-generational income
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,000 SF
Building Class
C
Year Built
2001
Price
$628,000
Price Per SF
$78.50
Cap Rate
8.91%
NOI
$55,955
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.00 AC
Zoning
H C - Call the City of Vass.
Parking
34 Spaces (4.25 Spaces per 1,000 SF Leased)
Frontage
173’ on Highway 1 N
Amenities
- Signalized Intersection
- Tenant Controlled HVAC
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 8,000 SF
- $8.65
- Double Net
- Jun 2029
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 | 8,000 SF | $8.65 | Double Net | Jun 2029 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 9514-07-69-0341 | Improvements Assessment | $516,060 |
| Land Assessment | $225,260 | Total Assessment | $741,320 |
Property Taxes
Parcel Number
9514-07-69-0341
Land Assessment
$225,260
Improvements Assessment
$516,060
Total Assessment
$741,320
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DG downtown w (2) 5 yr. Options | Highway 1 N
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