Dollar General Plus
10,640 SF | Retail Building | Nicholls, GA 31554 | $1,876,000 ($176/SF) | 6.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,876,000
- Property Type
-
Retail
- Square Feet
- 10,640 SF
- Price / Square Foot
- $176
Listing Contacts
Brett Butler
Verified Profile
Dave Wirgler
Verified Profile
Chris Whelan
Verified Profile
- Property Info
Property Overview
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to present the opportunity to acquire the fee simple ownership interest in the Dollar General Plus property located at 606 Van Streat Hwy in Nicholls, GA (“Property”). The Property comprises a 10,640 square foot building on 1.65 acres of land. The Property is projected to finish construction in November 2023 and feature upgraded brick and Hardie plank construction, offering higher quality than the more common metal exterior model.
The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 19,294 locations in 47 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property will serve as a relocation for its existing 8,000 SF store and feature a larger 10,640 SF floor plan, staying current with Dollar General’s base prototype and accommodating the growing market demand. The Property is situated on a corner pad site with direct frontage on Hwy 32, offering visibility to over 5,685 vehicles daily.
The Property provides entirely passive ownership and an income stream net of all operating expenses. Tenant is subject to 15 years of remaining lease term, providing income security through November 2038 and five, five-year renewal options with fixed 10% rental escalations upon each renewal. The Offering provides a highly passive investment opportunity backed by a best-in-class national tenant with an investment grade credit rating.
The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 19,294 locations in 47 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property will serve as a relocation for its existing 8,000 SF store and feature a larger 10,640 SF floor plan, staying current with Dollar General’s base prototype and accommodating the growing market demand. The Property is situated on a corner pad site with direct frontage on Hwy 32, offering visibility to over 5,685 vehicles daily.
The Property provides entirely passive ownership and an income stream net of all operating expenses. Tenant is subject to 15 years of remaining lease term, providing income security through November 2038 and five, five-year renewal options with fixed 10% rental escalations upon each renewal. The Offering provides a highly passive investment opportunity backed by a best-in-class national tenant with an investment grade credit rating.
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 71,874 SF
Highlights
- Investment Grade Corporate Guaranty (S&P: BBB/Stable)
- Relocation and Expansion Location
- Upgraded Brick Construction
- Passive NNN Lease
- Corner Pad Location
- Long-Term Lease with Attractive Renewal Options
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