238 Harless Dr - Storefront FOR SALE


Dryden, VA 24243
$995,000 USD
424-262-7100
238 Harless Dr, Dryden, VA for Sale
$995,000 USD
Storefront - FOR SALE
1/4
null | 7.66% Cap Rate

238 Harless Dr
Dryden, VA 24243


HIGHLIGHTS

  • Leased to Dollar General under an absolute triple net (NNN) structure
  • ±6.5 years of firm lease term remaining with four additional five-year renewal options and 10% escalation at each option.
  • Build-to-suit construction completed in 2011 on a ±1.03-acre parcel designed to meet Dollar General’s prototype standards.
  • Highly visible location along U.S. Route 58 in Lee County, VA, benefiting from steady traffic and a broad trade area with limited retail alternatives.

OVERVIEW

This single-tenant investment property is 100% leased to Dollar General Corporation (NYSE: DG) under an absolute triple net (NNN) structure, providing zero landlord responsibilities and a dependable income stream. Positioned on a ±1.03-acre parcel with a 9,026 square-foot building, the site was custom-built in 2011 as a build-to-suit location for Dollar General. The asset offers investors the security of a fee-simple interest coupled with the financial strength of a publicly traded, investment-grade guarantor operating over 19,000 stores nationwide. The current lease term, inclusive of an extension, runs through June 30, 2032, offering approximately 6.5 years of remaining term, with four additional five-year renewal options. Annual rent is $76,177, reflecting a 7.66% cap rate, with scheduled 10% rental increases at the start of each renewal period. This predictable structure ensures long-term cash flow protection and stable yield growth.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$110 USD /SF

CAP RATE

7.66%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.39 AC

LAND SF

191,054 SF

ZONING

-

APN/PARCEL ID

25-(A)-29B

ASK ABOUT THIS PROPERTY

Greg HerzWCB Commercial Real Estate Inc.More Info
424-262-7100

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Greg HerzWCB Commercial Real Estate Inc.More Info
424-262-7100

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