736 US-29 Hwy - Convenience Store FOR SALE


Troy, AL 36081
$1,171,643 USD
619-778-1857
736 US-29 Hwy, Troy, AL for Sale
$1,171,643 USD
Convenience Store - FOR SALE
1/3
null | 7.4% Cap Rate

736 US-29 Hwy
Troy, AL 36081


HIGHLIGHTS

  • Credit rated tenant with corporate guaranty
  • 4.09% assumable loan for 1% to qualified buyer; 3 years remaining on loan
  • 8.1 years remaining on lease term
  • Owner pays 2 1/2% commission to buyer's broker on successful close of escrow
  • Absolute NNN, no landlord responsiblities;

OVERVIEW

This is a 7 year old absolute NNN lease with 8.1 years left on original lease term. Tenant has five 5 year options to renew and each carries a 10% rent bump. There are no landlord responsibilities. There is a 4.09% interest rate mortgage due in 3 more years which requires a monthly payment of $3,313 per month, and the monthly rental income from the tenant is $7,225.13. It is offered by the owner. Owner will pay buyer's broker, if any, a commission of 2 1/2% upon successful close of escrow. This store is located 58 miles southeast of Montgomery, Alabama, and there is little if any competition to the store within a 5 mile radius. There are 3500 residents within a 5 miles radius, and the medium income in that 5 miles radius is $40,000. Dollar General Corporation has a S&P Credit Rating of BBB, and operates over 20,000 locations. Owner will cooperate with Buyer's 1031 requirements. Owner has 4 other similar stores any combination of which can be included in a portfolio sale to accommodate buyer's 1031 requirements on similar terms herein proposed.

FOR SALE DETAILS

PRICE

$1,171,643 USD

PRICE/SF

$129 USD /SF

CAP RATE

7.4%

% 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

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.73 AC

LAND SF

75,359 SF

ZONING

-

APN/PARCEL ID

11-04-20-0-000-005.0040/22268

ASK ABOUT THIS PROPERTY

Bruce BoogaardBoogaard PropertiesMore Info
619-778-1857

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Bruce BoogaardBoogaard PropertiesMore Info
619-778-1857

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