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Dollar General Market | New 15 Yr Abs NNN 6107 Town Creek Rd

10,770 SF Retail Building Elm City, NC 27822 $1,915,000 ($178/SF) 6.65% Cap Rate

Investment Highlights

  • Brand New 15-Year Lease | Scheduled Rental Increases | New Construction | Established Brand
  • Strong Demographics in 5-Mile Trade Area
  • Located Along State Hwy 42 (3,300 VPD) | Excellent Visibility
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Limited Nearby Competition | Barnes Elementary School | Gee Corbett Village Apartments

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Dollar General Market investment property located in Elm City, North Carolina. The tenant, Dollar General, recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The newly-constructed building will feature a state-of-the-art design with high-quality materials. As of May 3, 2024, the Company has 20,149 Dollar General, DG Market, DGX and Popshelf stores across the United States providing everyday essentials.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,770 SF
Building Class
B
Year Built
2024
Price
$1,915,000
Price Per SF
$178
Cap Rate
6.65%
NOI
$127,348
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Land Acres
2.00 AC
Zoning
General Commercial
Parking
36 Spaces (3.34 Spaces per 1,000 SF Leased)
  • Listing ID: 33556084

  • Date on Market: 10/17/2024

  • Last Updated:

  • Address: 6107 Town Creek Rd, Elm City, NC 27822

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