8823 W Pine St - Freestanding FOR SALE


Lowgap, NC 27024
$1,270,000 USD
734-755-6359
8823 W Pine St, Lowgap, NC for Sale
$1,270,000 USD
Freestanding - FOR SALE
1/5
null | 7.2% Cap Rate

8823 W Pine St
Lowgap, NC 27024


HIGHLIGHTS

  • 10 Year Double Net (NN) Lease | Minimal Landlord Responsibilities
  • 8% Rent Increases Every 5 Years
  • The Only Dollar Store Serving the Community!
  • 2026 Retrofit Construction | Opening in May
  • 3 (5 Year) Options | 8% Increases At Each Option
  • Three Mile Household Income $61,784

OVERVIEW

Fortis Net Lease is pleased to present this 2026 retrofit Dollar General store located in Lowgap, North Carolina. The property offers a Ten (10) Year Double Net (NN) Lease, leaving minimal landlord responsibilities (Tenant pays base rent, property taxes, insurance, limited CAM/parking). The lease contains 8% rental rate increases every 5 years including at each of the 3 (5 year) options to renew. 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 under construction with rent start & store opening on track for May 2026. This Dollar General is highly visible as it is strategically positioned on W Pine Street seeing 3,725 cars per day & is the only dollar store serving the community. The site is nestled amongst residential homes making it a crucial stop for the area. The 10 mile population from the site is 20,924 while the 3 mile average household income is $61,784 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of 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 7.20% cap rate based on NOI of $91,452.

FOR SALE DETAILS

PRICE

$1,270,000 USD

PRICE/SF

$147 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.62 AC

LAND SF

70,567 SF

ZONING

HB-C

APN/PARCEL ID

4051-03-14-3183

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 Notice.