Dollar General
11,305 SF | Retail Building | Heathsville, VA 22473 | $1,709,029 ($151/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,709,029
- Property Type
-
Retail
- Square Feet
- 11,305 SF
- Price / Square Foot
- $151
Listing Contacts
Bryan Bender
Verified Profile
- Property Info
Property Overview
Fortis Net Lease is pleased to present this retrofit 11,305 SF Dollar General store located in Heathsville, Virginia - adjacent to a Food Lion grocery store. The property is secured with a Fifteen (15) Year Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains Five (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with rent & store opening on track for December 2023.
This Dollar General is highly visible and is strategically positioned off of Northumberland Hwy which sees 4,706 cars per day and sits next to a Food Lion that is the top grocer within a 15 mile radius. The ten mile population from the site is 11,399 while the three mile average household income is $61,555 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
Instate Broker of Record: Brian Brockman | Bang Realty
This Dollar General is highly visible and is strategically positioned off of Northumberland Hwy which sees 4,706 cars per day and sits next to a Food Lion that is the top grocer within a 15 mile radius. The ten mile population from the site is 11,399 while the three mile average household income is $61,555 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
Instate Broker of Record: Brian Brockman | Bang Realty
Property Details
- Class
- C
- Year Built/Renovated
- 2013/2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 134,165 SF
Highlights
- New Double Net (NN) Lease | Minimal Landlord Responsibilities
- 2023 Retrofit Construction | Former Family Dollar Store
- Located in the Richmond-Petersburg Designated Market Are
- Five (5 Year) Options | 10% Rental Rate Increase at Each
- 6,927 Cars Per Day on Northumberland Highway
- Adjacent to Food Lion | Top Performing Grocer in a 15 Mile Radius
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