118 Drugstore Rd - Freestanding FOR SALE


Cliffside, NC 28024
$1,500,000 USD
704-913-1033
118 Drugstore Rd, Cliffside, NC for Sale
$1,500,000 USD
Freestanding - FOR SALE
1/13
null | 5.8% Cap Rate

118 Drugstore Rd
Cliffside, NC 28024


HIGHLIGHTS

  • HI-VISIBILITY
  • 6-WAY INTERSECTION
  • VERY CLEAN, WELL MANTAINED AND MANAGED NNN PROPERTY
  • THESE HIGHLIGHTS PROVE TO BE VERY VALUABLE TO CUSTOMERS LOOKING FOR CONVENIENT GROCERY AND RETAIL ITEMS WITHOUT SACRIFICING TIME AND TRAVEL

OVERVIEW

1.31 ACRE FULLY DEVELOPED #8865 Square Foot VERY WELL MAINTAINED DOLLAR GENERAL STORE LOCATED CLIFFSIDE, NORTH CAROLINA,(MOORESBORO ADDRESS) Built Year 2009 WITH CORPORATE GUARANTEED NNN LEASE UNTIL YEAR 2030 WITH #5 - 5 Year Options until Year 2055 WITH 10% INCREASES PER OPTION. *This is a VERY HIGH ANNUAL SALES DG STORE ; GROSS ANNUAL SALES FOR YEAR 2024 WERE $1,812,232.00 * AT A $1.5 Million Purchase Price will create a 5.8% Cap Rate Years 2025 through 2030 with an AVERAGE CAP Rate of 6.8% for the entire 28.6 Years Lease Period REMANING AS FOLLOWS: *YEARS 2025 THROUGH 2030 ANNUAL LEASE PAYMENT = $87,372.00 YEARS 2030 THROUGH 2035 ANNUAL LEASE PAYMENT = $90,680.40 YEARS 2035 THROUGH 2040 ANNUAL LEASE PAYMENT = $99,748.44 YEARS 2040 THROUGH 2045 ANNUAL LEASE PAYMENT = $109,723.32 YEARS 2045 THROUGH 2050 ANNUAL LEASE PAYMENT = $120,695.64 YEARS 2050 THROUGH 2055 ANNUAL LEASE PAYMENT = $132,765.24 *This property will have generated $3,081,148.00 in NNN Lease Payments. Agent Remarks *** VERY CLEAN, WELL MAINTAINED, HIGH VISIBILITY, CORNER LOCATION DG STORE LOCATED IN RURAL CLIFFSIDE, NORTH CAROLINA LOCATION. *PLEASE CONTACT LISTING AGENT DON L. PEELER FOR SHOWING INSTRUCTIONS AT 704-913-1033 DIRECT CELL NUMBER. *SEE SURVEY ATTACHED IN "DOCUMENTS SECTION"

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$166 USD /SF

CAP RATE

5.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

DOLLAR GENERAL NNN LEASED

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

NONE

APN/PARCEL ID

1646804

ASK ABOUT THIS PROPERTY

Don PeelerRE/MAX SelectMore Info
704-913-1033

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Don PeelerRE/MAX SelectMore Info
704-913-1033

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.