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Dollar General Net Lease Investment | 7% Cap Rate

4500 US Hwy 64
Morganton, NC 28655
PRICE : $1,171,000
CAP RATE: 7%
PROPERTY TYPE: Retail
SITE SIZE: 1.53 Acres
BUILDING SIZE: 9,100 SF
YEAR BUILT: 2013

Highlights

  • Strong national credit tenant
  • Established location with limited competition in the immediate area
  • NNN with no landlord responsibilities
  • Current store prototype of 9,100 SF on large corner parcel
  • Good "bit size" property for first time of 1031 investor
  • Outstanding corporate guarantee by Dollar General
  • Available for sale at $1,171,000 or a 7% cap rate

Description

This NNN Dollar General in Morganton, North Carolina is an excellent investment with no landlord responsibilities in a proven location.

The ± 9,100 SF building, built in 2013, is located on a ± 1.53 acre corner site in the southern portion of Morganton. The nearest dollar store is almost 6 miles away.

This location has a 15-year initial term running through October 2028 with five 5-year renewal options, each with a 10% rent increase. The lease is corporate guaranteed by Dollar General, who is responsible for insurance, all repairs & maintenance and reimbursement of property taxes to the Landlord.

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