Dollar General | 1131 S 2nd St
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Dollar General 1131 S 2nd St
10,823 SF Retail Building Millville, NJ 08332 $1,625,000 ($150/SF) 8% Cap Rate
Investment Highlights
- Long Term Tenant
- Minimal Landlord Responsibilities
- Strategic Location
- Attractive Rent Increases
- Investment Grade Credit
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 1131 South 2nd Street in Millville, New Jersey (the “Property”). Dollar General has been at this location since it was constructed in 2011 and recently extended their lease demonstrating their commitment to the site and the market. Dollar General has 4+ years remaining on their Lease with two (2), 5-year renewal options. The lease calls for attractive 10% rental increases at the start of each renewal option. The Property is positioned at the intersection of Arbutus Avenue and South 2nd Street (NJ Route 47), one of the area’s primary commercial and commuter corridors. The Property benefits from outstanding visibility and frontage and is 1.3-miles from NJ Route 49 and 2-miles from NJ Highway 55. Millville is located in Cumberland County in southern New Jersey approximately 45 miles from Philadelphia, 120 miles from New York City, and 140 miles from Washington, D.C. It lies between the southern termini of the New Jersey Turnpike, the Garden State Parkway, State Highway 55 (which runs through the northeastern portion of the city), and the Atlantic City Expressway.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,823 SF
Building Class
B
Year Built
2011
Price
$1,625,000
Price Per SF
$150
Cap Rate
8%
NOI
$130,000
Tenancy
Single
Building Height
1 Story
Slab To Slab
15’
Building FAR
0.22
Lot Size
1.14 AC
Zoning
C - Commercial
Parking
13 Spaces (1.2 Spaces per 1,000 SF Leased)
Frontage
109 FT on South 2nd Street
PROPERTY TAXES
Parcel Number | 10-00559-0000-00006 | Improvements Assessment | $406,500 |
Land Assessment | $44,800 | Total Assessment | $451,300 |
PROPERTY TAXES
Parcel Number
10-00559-0000-00006
Land Assessment
$44,800
Improvements Assessment
$406,500
Total Assessment
$451,300
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Dollar General | 1131 S 2nd St
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