Dollar General

7854 Highway 9 N, Mill Spring, North Carolina



Price : $675,000
Cap Rate : 8.44%
NOI : $57,000
Price Per SF : $74.14
Building Size : 9,104 Sq Ft
Lot Size (AC) : 1.18 Acres
Year Built : 2007
Lease Type : NN
Lease Expiration : 4.3 Years
Renewal Options : 3, 5-Year
Status : Available
Property Type : Retail

Investment Highlights

Attractive Rent Increases
Minimal Landlord Responsibilities
Corporately Guaranteed Lease (NYSE: DG)
Build-to-Suit, High Quality Construction
Investment Grade Credit Tenant (S&P: BBB-)
2016 Tenant Improvements - Interior and Parking Lot
Strategic DG location, No Competition in 15 Mile Trade Area


Rare opportunity to acquire this investment grade, single tenant NN lease Dollar General (NYSE: DG) below replacement cost at a very low price point and low rent per square foot. Serving as a mini-grocery, this is a strategic location as the only dollar store in the vicinity and no other retail competition within a 15 mile radius. Minimal landlord responsibility of roof, structure and exterior maintenance with the tenant reimbursing for parking lot maintenance, taxes, and insurance. Dollar General early extended the lease by 5 years and invested in a complete interior remodel and re-striped the parking lot (2016) showing its commitment to this location.

The subject property is a 9,065 SF build-to-suit on ±1.18 acre site with approximately 180 feet of frontage on NC Highway 9 which connects US Highway 74 to the south with US Highway 64 at Lake Lure and Chimney Rock. North Carolina Highway 9 (NC 9) is a 46.4-mile primary state highway serving as a connector route from South Carolina Highway 9 to eastern portions of the Appalachians around Asheville. This is a popular and growing lake and outdoor activity area in western North Carolina between Asheville, NC and Greenville/Spartanburg, SC with many vacation and retirement homes are in the area.

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