39240 Highway 82 - Freestanding FOR SALE


Itta Bena, MS 38941
$1,309,145 USD
847-562-0003
39240 Highway 82, Itta Bena, MS for Sale
$1,309,145 USD
Freestanding - FOR SALE
1/7
null | 7.25% Cap Rate

39240 Highway 82
Itta Bena, MS 38941


HIGHLIGHTS

  • Proven location – store expanded, and lease extended in 2021
  • Dollar General Market property featuring the larger and highly desired prototype carrying additional grocery products
  • Long-term lease – Over 11 years remaining
  • Across from Mississippi Valley State University – 2,200 students
  • Limited competition in the area – Walmart is located 7+ miles east
  • Absolute NNN – No landlord responsibilities

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Market property located in Itta Bena, Mississippi. Successfully operating since 2009, the store was upgraded to a DG Market in 2021, featuring a larger footprint with an expanded selection of groceries and perishables. After completing the renovations, Dollar General signed a new long-term lease extending through 2036. The lease is absolute triple net (NNN), requiring no landlord responsibilities. It includes four 5-year renewal options with 10% rent increases at the start of each. DG Market locations feature a larger and more desirable store footprint and offer a selection of groceries and perishable items. Dollar General, an investment-grade tenant, holds a “BBB” credit rating from Standard & Poor’s. The 11,548-square foot property is strategically located at a signalized intersection on US Highway 82, with over 8,400 vehicles passing daily. Its proximity to Mississippi Valley State University, with 2,200 enrolled students, provides a built-in customer base for the DG Market store. Limited competition exists in the area, as the nearest Walmart Supercenter is over seven miles east. Within a ten-mile radius, 18,500 residents live with an average household income of $62,000. Dollar General Corporation (NYSE: DG), headquartered in Goodlettsville, Tennessee, is a leading American discount retailer with a vast network of over 20,000 stores across 48 U.S. states and Mexico as of early 2024. Founded in 1939, the company has established itself as a cornerstone in rural and underserved communities by offering a broad assortment of affordable products, including household essentials, food, health and beauty aids, apparel, and seasonal items. Dollar General’s expansive retail footprint is supported by a robust distribution network, ensuring efficient product delivery and inventory management.

FOR SALE DETAILS

PRICE

$1,309,145 USD

PRICE/SF

$113 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

-

APN/PARCEL ID

09618030100310

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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