24298 US Highway 17 - Convenience Store FOR SALE


Waverly, GA 31565
$1,299,000 USD
734-755-6359
24298 US Highway 17, Waverly, GA for Sale
$1,299,000 USD
Convenience Store - FOR SALE
1/5
null | 7.26% Cap Rate

24298 US Highway 17
Waverly, GA 31565


HIGHLIGHTS

  • Absolute NNN 15 Year Lease | Zero Landlord Responsibilities.
  • Upfitted Store Footprint | Commitment to Location Hard Signalized Corner Location.
  • 6 Years 7 Months Remaining on Primary Term Five (5 Year) Options | 10% Rental Increase At Each Option.
  • Three Mile Household Income $80,457 Ten Mile Population 13,929 With Expected 3.85% Growth.
  • 2,320 Cars Per Day on US Highway 17 Investment Grade Dollar Store with "BBB" Credit Rating.

OVERVIEW

Fortis Net Lease is pleased to present this 9,100 SF. recently upfitted Dollar General store located in Waverly, Georgia. The property is secured with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently open with rent having commenced in March 2017. This Dollar General is highly visible as it is strategically positioned on the corner of Horsestamp Church Road (GA-110) and US Highway 17 which sees 2,320 cars per day. The ten mile population from the site is 13,929 while the three mile average household income is $80,457 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 1 mile population growth rate at 6.45%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 7.26% cap rate based on NOI of $94,368.00.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$143 USD /SF

CAP RATE

7.26%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.93 AC

LAND SF

84,071 SF

ZONING

C4

APN/PARCEL ID

073A-033

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

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