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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
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
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
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 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
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DG downtown w (2) 5 yr. Options | Highway 1 N
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