Dollar General Market | 29725 Nelson Mountain Rd
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Dollar General Market 29725 Nelson Mountain Rd
10,640 SF Retail Building Albemarle, NC 28001 $2,429,170 ($228/SF) 6.50% Cap Rate
Investment Highlights
- Long-Term Lease with New Rental Escalations
- Clear Visibility & Access
- Passive NNN Lease
- Investment Grade Corporate Guaranty (S&P: BBB/Stable)
- Brand-New Build-to-Suit Construction
- Growing Market
Executive Summary
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to present the opportunity to acquire the fee simple ownership interest in the brand new Dollar General Market property located at 29725 Nelson Mountain Rd in Albemarle, NC (“Property”). The Property comprises a 10,640 square foot building on 1.99 acres of land. The Property is projected to finish construction in September 2024 and features upgraded brick and Hardie plank construction, offering higher quality than the traditional metal exterior model.
The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 19,294 locations in 47 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property is situated at the intersection of Nelson Mountain Rd and NC-73, providing ease of sight and access. In Association With Jason Long, NC License #338124.
The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 19,294 locations in 47 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property is situated at the intersection of Nelson Mountain Rd and NC-73, providing ease of sight and access. In Association With Jason Long, NC License #338124.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,640 SF
Building Class
B
Year Built
2024
Price
$2,429,170
Price Per SF
$228
Cap Rate
6.50%
NOI
$157,896
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.00 AC
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 6529-04-60-3030 | Improvements Assessment | $0 |
| Land Assessment | $39,950 | Total Assessment | $39,950 |
PROPERTY TAXES
Parcel Number
6529-04-60-3030
Land Assessment
$39,950
Improvements Assessment
$0
Total Assessment
$39,950
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Dollar General Market | 29725 Nelson Mountain Rd
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