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NEW DG MARKET | TRAFFIC 12,000 ADT | 5 MILE P 4682 U S Highway 29

10,640 SF Retail Building Blairs, VA 24527 $1,991,611 ($187/SF) 6.70% Cap Rate

Investment Highlights

  • 5% Rent Increases Every 5 Years Throughout the Lease
  • 5 Mile Population Exceeds 24,000
  • Strong Daily Traffic @ 12,000 ADT

Executive Summary

4682 US 29 features an all new 2024 construction DG Market prototype building consisting of approximately 10,640 SF sitting directly at the corner of US 29 and Learner Lane. This location is in an established market and the location has strong daily traffic counts at 12,000 ADT on US 29. The lease features attractive 5% rent increases every 5 years throughout the lease. The property is ideally located directly on a +/- 3.15 acre parcel on one of the main connectors heading north and south. The nearest Dollar General is 3 miles south in Danville, 4 miles west in Ridgecrest, 4.6 miles north in Blairs. This location will pull from a large established trade area with a 7 mile population over 43,000 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 convenient location with everyday low prices. The township is within Pittsylvania County - located just 7 miles from downtown Danville, 54 miles from Greensboro, NC and 65 miles from Durham, NC.
The town is within Pittsylvania County which is within the Danville MSA. Danville micropolitan statistical area has a population over 106,000. Danville is the principal city within the area and has a population over 43,000. Danville is located on the Dan River along the North Carolina border and offers historical landmarks, recreational opportunities and beautiful countryside views. The city is quickly becoming a hotbed of culture in Southern Virginia and boasts a vibrant downtown that is rich in education, arts, history, and business. Highlights of the area include The Carrington Pavilion, which hosts summer concert series, The Danville Symphony Orchestra, Danville Museum of Fine Arts, The Riverwalk Trail along the River District and much more. The new Caesars Virginia opens in 2024, a $650 million newly constructed destination resort and casino, featuring a full-service spa, pool, fitness center, and a variety of restaurants and bars. Danville has a rich diversity of education institutions, including Averett University, Danville Community College and the Institute for Advanced Learning and Research. The River District development plan is in it’s seventh year and is in the process of redeveloping and boosting infrastructure to the central business district, historic tobacco warehouses district and manufacturing area. The property is located just 7 miles from downtown Danville, 11.5 miles from the North Carolina state border, 54 miles from Greensboro and 65 miles from Durham.
LISTED IN CONJUNCTION WITH VA BROKER OF RECORD MICHAEL KATZ - LICENSE 0225059347 OF REF ADVISORY INC

Data Room Click Here to Access

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
10,640 SF
Building Class
B
Year Built
2024
Price
$1,991,611
Price Per SF
$187
Cap Rate
6.70%
NOI
$133,438
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
13.28 AC
Zoning
R1 - Storefront Retail
Frontage
319 FT on U.S. 29

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2421-77-7741
Land Assessment
$181,800
Improvements Assessment
$871,000
Total Assessment
$1,052,800
  • Listing ID: 33313820

  • Date on Market: 9/26/2024

  • Last Updated:

  • Address: 4682 U S Highway 29, Blairs, VA 24527

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