1402 E Newport Pike - Freestanding FOR SALE


Wilmington, DE 19804
$2,435,953 USD
202-448-1716
1402 E Newport Pike, Wilmington, DE for Sale
$2,435,953 USD
Freestanding - FOR SALE
1/4
null | 8.5% Cap Rate

1402 E Newport Pike
Wilmington, DE 19804


HIGHLIGHTS

  • Attractive Rent Increases
  • Zero Management Responsibilities
  • Investment Grade Credit
  • Strategic Retail Location
  • Recession Resistant Tenant
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 1402 E Newport Pike in Wilmington, Delaware (the “Property”). Dollar General commenced a 15-year Absolute Net Lease in 2015 that has 4+ years of term remaining followed by five (5), 5-year renewal options. The lease features 10% rent increases at the start of each renewal option. The Property is positioned in the Newport Heights neighborhood of Wilmington at the signalized intersection of Becker Avenue and Newport Pike, the area’s primary commercial and commuter corridor traversing southwestern Wilmington. Dollar General benefits from excellent visibility and frontage in a densely populated residential neighborhood. Dollar General offers convenient access to DE Route 141 and Interstates 95, 295 and 495, and is easily accessible from all areas of the city.

FOR SALE DETAILS

PRICE

$2,435,953 USD

PRICE/SF

$268 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

CN

APN/PARCEL ID

07-047.20-224

ASK ABOUT THIS PROPERTY

Austin SmithHorvath & TremblayMore Info
202-448-1716

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Austin SmithHorvath & TremblayMore Info
202-448-1716

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