Dollar General For Sale -11% Cap Rate Potential!

Retail-Commercial for Sale
Catylist Listing ID: 30214359
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail
Building Size (RSF): 12,000 SF
Gross Land Area: 1.19 Acres
Sale Price: $525,000
Unit Price: $43.75 PSF
Ceiling: 11 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Dollar General - Stevenson, AL
Usable Size (USF): 12,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 77
Last Updated: 10/8/2018

Overview / Comments

This property is now for sale where previously we were only marketing the empty suite for lease. This is a great opportunity for an investor to have a great return or user/investor to have a business on site in the vacant suite with minimal or no rent.

When the vacant suite (2,800 SF) is leased, the property will have a 11% Cap Rate and an Internal Rate of Return (IRR) over over 40%. See pro forma which is attached. This assumes the suite is leased at $8/sf, NNN.

Dollar General (DG) has just (1/1/2018) extended their lease for a 5-year term and has two 3-year extension options. They have been at this location some 20-years. The DG lease has the following payment conditions: base rent is $35,472/yr and they pay property taxes and insurance and $2,700 of CAMS per year.

When the vacant suite is leased at $8/sf, NNN,an additional $22,400/yr of income is added.

Additional Details

Nearest MSA: Scottsboro
County: Jackson
Taxing Authority: Jackson County
Tax ID/APN: 14-04-19-0-000-024.001
Zoning: NONE
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Fronts US Hwy 72
Property Visibility: Excellent
Largest Nearby Street: US Hwy 72
Feet of Frontage: 148
Traffic/Vehicle Count: 1,500
Highway Access: Hwy 72 is directly in front of the subject suite.
Airports: Stevenson
Site Description: The site is level and a few feet above the grade of Hwy 72. A large parking lo is in front that services the Dollar General and the vacant suite.
Area Description: The area has a mixture of commercial, industrial, retail, residential and farming uses.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 12,000 SF
Property Condition: Good
Year Built: 1976
Construction/Siding: Brick/Aluminum Siding
Total Parking Spaces: 50
Parking Ratio: 2.4 (per 1000 SF)
Parking Type: Surface
Parking Description: There are 50 striped and paved parking spaces in front of the building
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Engineered System
Interior Description: The Dollar General interior is typical of any DG. The vacant suite has an open floor plan.
Zoning Description: No zoning per county. Located in commercial area
Lot Frontage: 148
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Other
Easements Description: There is a cross easement for the access to the property.
Land Ownership: Owned
Legal Description: S19 T2 R8 PT SE1/4 of SE1/4 BEG 480 W of NE COR TH SW 260 NW 300 NE 19.5 E 294 POB

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,389 3,878
Median Age: 39.25 40.78
Households: 952 1,566


Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
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