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- LoopNet Team
11674 NC 138 Hwy
Norwood, NC 28128
Dollar General · Retail Property For Sale
Investment Highlights
- Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
- Three Mile Household Income $49,572
- 3,000 Cars Per Day on Highway 138
- 4 (5 Year) Options | 10% Rental Increase At Each Option
- Ten Mile Population 37,891
- No Competition Within 6 Miles
PROPERTY FACTS
About 11674 NC 138 Hwy , Norwood, NC 28128
Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store located in Norwood, North Carolina. The property is encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 4 (5) Yr. Options to renew, each with a 10% rental rate increase. 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 projected to commence in August 2020. This Dollar General is highly visible as it is strategically positioned on the corner of Little Street and Highway 138 which sees 3,000 cars per day. The ten mile population from the site is 37,891 while the three mile average household income is $49,572 per year, making this location ideal for a Dollar General. This area is also seeing steady growth. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 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 6.35% cap rate based on NOI of $112,128. Instate Broker of Record: James Wilson | Pulliam Properties | License # C3903
PROPERTY TAXES
Parcel Number | 6533-01-49-6980 | Improvements Assessment | $538,500 |
Land Assessment | $32,467 | Total Assessment | $570,967 |
PROPERTY TAXES
Learn More About Investing in Retail Properties
Listing ID: 18803579
Date on Market: 3/9/2020
Last Updated:
Address: 11674 NC 138 Hwy, Norwood, NC 28128