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Dollar General 1402 E Newport Pike

9,100 SF Retail Building Wilmington, DE 19804 $2,855,942 ($314/SF) 7.25% Cap Rate

Retail Buildings Delaware Wilmington 1402 E Newport Pike, Wilmington, DE 19804

Investment Highlights

  • Attractive Rent Increases
  • Investment Grade Credit
  • High Traffic Counts
  • Zero Management Responsibilities
  • Strategic Retail Location
  • Recession Resistant Tenant

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 1402 E Newport Pike in Wilmington, Delaware (the “Property”). Dollar General commenced a 15-year Absolute Net Lease in 2015 that has 5+ years of term remaining followed by five (5), 5-year renewal options. The lease features 10% rent increases at the start of each renewal option. The Property is positioned in the Newport Heights neighborhood of Wilmington at the signalized intersection of Becker Avenue and Newport Pike, the area’s primary commercial and commuter corridor traversing southwestern Wilmington. Dollar General benefits from excellent visibility and frontage in a densely populated residential neighborhood. Dollar General offers convenient access to DE Route 141 and Interstates 95, 295 and 495, and is easily accessible from all areas of the city.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,100 SF
Building Class
B
Year Built
2015
Price
$2,855,942
Price Per SF
$314
Cap Rate
7.25%
NOI
$207,056
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.02 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
CN
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PROPERTY TAXES

Parcel Number 07-047.20-224 Improvements Assessment $231,500
Land Assessment $162,000 Total Assessment $393,500

PROPERTY TAXES

Parcel Number
07-047.20-224
Land Assessment
$162,000
Improvements Assessment
$231,500
Total Assessment
$393,500
(202) 448-1716

Contacts

  • Listing ID: 33365682

  • Date on Market: 10/1/2024

  • Last Updated:

  • Address: 1402 E Newport Pike, Wilmington, DE 19804

More public record information on 1402 E Newport Pike, Wilmington, DE 19804

The Retail Property at 1402 E Newport Pike, Wilmington, DE 19804 is currently available for sale. Contact Horvath & Tremblay for more information.

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Dollar General | 1402 E Newport Pike
(202) 448-1716 x

Dollar General | 1402 E Newport Pike

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Austin Smith

(202) 448-1716

(202) 448-1716

Kyle Danielson

(202) 847-4200

(202) 847-4200

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