602 S Commerce St - Freestanding FOR SALE


Overton, TX 75684
$1,401,000 USD
954-703-3602
602 S Commerce St, Overton, TX for Sale
$1,401,000 USD
Freestanding - FOR SALE
1/6
null | 6.75% Cap Rate

602 S Commerce St
Overton, TX 75684


HIGHLIGHTS

  • Over 5 Years Remaining | Options to Extend | Below Market Rent | Established Brand
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Located Along S. Commerce St. (4,700 VPD) | Limited Competition | Excellent Visibility | Overton Secondary School (257 students)
  • Strong Demographics in 10-mile Trade Area

OVERVIEW

• The tenant currently has over 5 years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site • The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation • DG is paying 25% less rent in this 10,640 prototype DG Plus store than the newer stores the exact same size in similar locations • The low rent along with the larger prototype structure provides an investor with a secure long-term outlook for this investment with a 10% hedge for inflation each five-year option • The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 locations in 47 states as of August 2024

FOR SALE DETAILS

PRICE

$1,401,000 USD

PRICE/SF

$133 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General - Overton TX

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

Agriculture Open

APN/PARCEL ID

10958

ASK ABOUT THIS PROPERTY

Jaime SalazarSRS Real Estate PartnersMore Info
954-703-3602

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Jaime SalazarSRS Real Estate PartnersMore Info
954-703-3602

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