NEW NORTH CAROLINA DG MARKET | 5% RENT BUMPS | 308 Walnut st
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NEW NORTH CAROLINA DG MARKET | 5% RENT BUMPS 308 Walnut st
12,480 SF Retail Building Fairmont, NC 28340 $2,140,622 ($172/SF) 6.75% Cap Rate
Investment Highlights
- 5% Rent Bumps Every 5 Years
- 25,000+ population within 10 miles
- 12.7 Miles from Lumberton
- Strong Traffic on S. Walnut Street @ 9,050 ADT
Executive Summary
FAIRMONT, NC
308 S. Walnut Street features an all new 2024 construction DG Market prototype building consisting of approximately 12,480 SF sitting directly at the intersection of S. Walnut Street and Cottage Street. This location is in an established market where DG has wanted to expand to it’s DG Market prototype. The location has strong daily traffic counts at 9,050 ADT on S. Walnut and 2,400 ADT on Cottage Street. The lease features attractive 5% rent increases every 5 years throughout the lease. The property is ideally located directly on a +/- 1.81 acre parcel one of the main connectors heading north and south. The township is within Robeson County - located just 9 miles from the South Carolina state border, 12.7 miles from Lumberton, 48 miles from Fayetteville. Robeson County is the largest county in the state of North Carolina by land area, having 949 square miles in total and is located approximately 1.5 hours from the beaches and 3 hours from the mountains, Robeson County is situated perfectly for day trips and family excursions. I-95 runs North-South on the Eastern Seaboard, directly through the county; and is a halfway point for a lot of travelers. I-74 runs East-West through the county, connecting North Carolina beaches to the mountains. The nearest Dollar General is an older prototype store 0.7 miles north, 6.1 miles west in Orrum and 6.8 miles east in Five Forks. This location will pull from a large established trade area and be a very convenient location allowing Dollar General to offer a wider variety of items including produce, meat and other foods allowing customers closer access to fresh and healthier foods at a co
308 S. Walnut Street features an all new 2024 construction DG Market prototype building consisting of approximately 12,480 SF sitting directly at the intersection of S. Walnut Street and Cottage Street. This location is in an established market where DG has wanted to expand to it’s DG Market prototype. The location has strong daily traffic counts at 9,050 ADT on S. Walnut and 2,400 ADT on Cottage Street. The lease features attractive 5% rent increases every 5 years throughout the lease. The property is ideally located directly on a +/- 1.81 acre parcel one of the main connectors heading north and south. The township is within Robeson County - located just 9 miles from the South Carolina state border, 12.7 miles from Lumberton, 48 miles from Fayetteville. Robeson County is the largest county in the state of North Carolina by land area, having 949 square miles in total and is located approximately 1.5 hours from the beaches and 3 hours from the mountains, Robeson County is situated perfectly for day trips and family excursions. I-95 runs North-South on the Eastern Seaboard, directly through the county; and is a halfway point for a lot of travelers. I-74 runs East-West through the county, connecting North Carolina beaches to the mountains. The nearest Dollar General is an older prototype store 0.7 miles north, 6.1 miles west in Orrum and 6.8 miles east in Five Forks. This location will pull from a large established trade area and be a very convenient location allowing Dollar General to offer a wider variety of items including produce, meat and other foods allowing customers closer access to fresh and healthier foods at a co
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
12,480 SF
Year Built
2024
Price
$2,140,622
Price Per SF
$172
Cap Rate
6.75%
NOI
$144,492
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.81 AC
Parking
5 Spaces (0.4 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 3004-03-008 | Improvements Assessment | $91,500 |
Land Assessment | $80,500 | Total Assessment | $172,000 |
PROPERTY TAXES
Parcel Number
3004-03-008
Land Assessment
$80,500
Improvements Assessment
$91,500
Total Assessment
$172,000
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NEW NORTH CAROLINA DG MARKET | 5% RENT BUMPS | 308 Walnut st
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