20 Pineo Point Rd, Harrington, ME 04643
9,002 SF | 100% Leased | Retail Building | Harrington, ME 04643 | $1,290,400 ($143/SF) | 7% Cap Rate
For Sale
Active
Asking Price $1,290,400
- Property Type
-
Retail
- Square Feet
- 9,002 SF
- Price / Square Foot
- $143
Listing Contacts
Rich Sillery
Danny Brooker
- Property Info
Property Overview
Offered for sale is an absolute net leased Dollar General in Harrington, Maine. Addressed 20 Pineo Point Road, Harrington, Maine 04643 and consisting of 9,002 square feet on 1.55 acres, the property is ideally positioned at the intersection of U.S. Route 1A and Pineo Point Road. The offering is a rare opportunity to acquire an absolute net-leased asset backed by a strong corporate guarantee; with limited trade competition in the surrounding market (no other discount stores within an approximately ten-minute drive of the property).
Property Details
- Class
- C
- Year Built
- 2017
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 67,518 SF
Highlights
- Large 1.55-acre parcel improved by 9,002 square foot Dollar General prototype (build-to-suit)
- 8+ years remain on original 15-year absolute-net lease with three, five-year options thereafter (10% increases each option)
- No Landlord responsibilities - tenant is responsible for all real estate taxes, insurance, utilities and maintenance
- The lease is guaranteed by investment grade credit (S&P: BBB/stable outlook) tenant Dollar General (NYSE: DG)
- Dollar General boasted $37.88 billion in revenue in fiscal year 2023 (10.59% increase from 2022) - DG ranks #111 on Fortune 500’s May 2024 list
- The offering is ideal for a buyer in a 1031 exchange seeking a management free asset that offers true passive income
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