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Single Tenant Net Lease Property

2710 US Hwy 41 S
Valdosta (Dasher), GA 31601
PRICE : $1,154,000
CAP RATE: 7.2%
PROPERTY TYPE: Retail
BUILDING SIZE: 9,100 SF
YEAR BUILT: 2012

Highlights

  • 10 years remaining on initial lease term with four 5 year renewal options
  • 7.2% cap rate
  • 7.3% blended average cap rate for remaining initial term
  • Rare 3% rent increase in Year 11 (August 2022) and 10% in each option period
  • Current annual net income of $83,096
  • True NNN lease with no landlord responsibilities

Description

PRICE ADJUSTMENT! Bull Realty is pleased to present this absolute NNN Dollar General located in Valdosta, GA. The +/- 9,100 SF building, built in 2012, is located on busy US 41 on a +/- 2 acre corner parcel with nearby traffic counts averaging just over 9,000 vehicles per day. The corporate guaranteed NNN lease has 10 years remaining on the initial term and is offered at a 7.2% cap. There is a rare 3% increase in year 11 of the initial 15 year term and four 5-year option periods, each featuring a 10% increase in rents. This is an ideal investment for an investor looking for a higher starting cap rate and the worry-free ownership of excellent real estate with a successful national credit tenant. The average cap rate for the remaining initial term is 7.3% due to the rent increase in the 11th year, unlike the newer NNN flat lease terms.

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