29725 Nelson Mountain Rd - Retail FOR SALE


Albemarle, NC 28001
$2,339,200 USD
949-662-1277
29725 Nelson Mountain Rd, Albemarle, NC for Sale
$2,339,200 USD
Retail - FOR SALE
1/5
null | 6.75% Cap Rate

29725 Nelson Mountain Rd
Albemarle, NC 28001


HIGHLIGHTS

  • Long-Term Lease with New Rental Escalations
  • Investment Grade Corporate Guaranty (S&P: BBB/Stable)
  • Clear Visibility & Access
  • Brand-New, Built-to-Suit Construction
  • Passive NNN Lease
  • Growing Market

OVERVIEW

Northmarq, on behalf of ownership as its exclusive advisor, is pleased to present the opportunity to acquire the fee simple ownership interest in the brand new Dollar General Market property located at 29725 Nelson Mountain Rd in Albemarle, NC (“Property”). The Property comprises a 10,640 square foot building on 1.99 acres of land. The Property is was constructed in September 2024 and features upgraded brick and Hardie plank construction, offering higher quality than the traditional metal exterior model. The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 20,000 locations in 48 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property is situated at the intersection of Nelson Mountain Rd and NC-73, providing ease of sight and access. The Property provides entirely passive ownership and an income stream net of all operating expenses. Tenant is subject to a brand-new 15-year lease, providing income security through September 2039 and rental escalations of 5% every five years including in each of the five, five-year renewal options. This Offering is a rare opportunity to invest in a highly passive asset backed by a top-rated national tenant.

FOR SALE DETAILS

PRICE

$2,339,200 USD

PRICE/SF

$220 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

6529-04-60-3030

ASK ABOUT THIS PROPERTY

Brett ButlerNorthmarqMore Info
949-662-1277

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Brett ButlerNorthmarqMore Info
949-662-1277

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