Dollar General – Glen Alpine, NC

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Available $1,278,607 - Retail - Single Tenant
Cap Rate:  7.20%Size:  9,100 SFTerm:  5.50 Years Remaining Print

 Investment Offering & Highlights

  • ABSOLUTE NNN LEASE STRUCTURE
    Zero Landlord responsibilities for operating or capital expenses
  • RENT INCREASES BETWEEN OPTIONS
    Very attractive 10% rent increases between each 5 year option
  • CORPORATE BACKED LEASE
    “BBB“ investment grade credit rating by Standard & Poor’s
  • POSITIONED DIRECTLY OFF OF INTERSTATE 40
    Located off of Interstate 40, a major east-west Highway running through the south-central portion of the US with daily traffic counts in excess of 41,000
  • DENSELY POPULATED AREA
    Approximately 25,000 residents within a 5-mile radius with projected growth

Property Description

THE SUBJECT PROPERTY IS A 9,100 SQUARE FOOT DOLLAR GENERAL LOCATED IN GLEN ALPINE, NORTH CAROLINA, WHICH IS APPROXIMATELY 5 MILES FROM DOWNTOWN MORGANTON AND 75 MILES NORTHWEST OF CHARLOTTE. DOLLAR GENERAL SIGNED A  15-YEAR LEASE WHCIH COMMENCED IN AUGUST 2011, LEAVING OVER 5.50 YEARS REAMINING ON THE TENTANT’S INITIAL LEASE TERM. THE LEASE PROVIDES FOR 10% RENT INCREASES BETWEEN EACH FIVE-YEAR RENEWAL OPTION. THE LEASE IS ABSOLUTE NNN PROVIDING ZERO LANDLORD RESPONSIBILITY.

Dollar General is the nation’s largest U.​S retail chain with over 16,500 locations with plans to grow by 1,000 stores each year.​ Dollar General has been in business for over 80 years and has a current net worth of over $6.2 billion with annual revenues in excess of $27 billion.​ Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit of BBB.​

Located along West Main Street, immediately north of Interstate 40, the subject property benefits from its exposure along the area’s main east-west commercial corridor.​ Neighboring retailers include Walmart Supercenter, Lowe’s, PetSmart, T.​J.​ Max, Applebee’s, McDonalds, Starbucks, Chick-Fil-A, and many other fast food restaurants, banks, retail and service providers.​ The property is located within a dense affluent neighborhood with an average household income exceeding $88,000 in a 3-mile radius and approximately 25,000 residents within a 5-mile radius.​

Additional Details

  • Price: $1,278,607
  • Cap Rate: 7.20%
  • Lease Term: 5.50 Years Remaining
  • Building Size: 9,100 SF
  • Lot Size: 1.12 Acres
  • Status: Available
Property Location