Highway 1 N - Freestanding FOR SALE


Vass, NC 28394
$674,000 USD
864-982-8281
Highway 1 N, Vass, NC for Sale
$674,000 USD
Freestanding - FOR SALE
1/6
null | 8.3% Cap Rate

Highway 1 N
Vass, NC 28394


HIGHLIGHTS

  • 23 yr. tenancy; early renewal; invest grade; the core of the business district of Vass.*

OVERVIEW

Dollar General # 7052, 3350 US # 1 (BUS.), Vass, NC 29384 DG # 7052 with a 10 yr. NN corp. guaranteed lease, extended thru 2029, has (2) five-year options with 10 % rental increases. Dollar General (NYSE: DG; S&P – BBB; Fortune # 104) has over 19,000 locations in 48 states, boasting a $ 15.8B market cap. (2024) Store located in the epicenter (1 off the Circle K Store) of Vass’ city limits. [US # 1 N. (BUS.) @ Main St / NC # 690] Over 63 % of area households earn less than $ 74,000 / yr. making this location ideal for a discount store outlet. Early (Jan ‘24) renewal extension shows tenant remains committed to this location for the exceedingly long run. Over 24,900 consumers live within 5 miles of store, having a population growth of 11 % since 2019. Over 19,300 employees live within 5 miles of store In Dec ’24, the store had 6500 visits / 4400 visitors, staying an average of 13 mins. / visit. (VF = 1.48) [Placer a.i.] Exposure to over 6000 AADT’s at the intersection of US # 1 N.(BUS.) and NC # 690 (Main St.) [NCDOT] Excellent for a 1031 tax deferred exchange replacement property or for a self-funded acquisition preserving a long-term stable income. An E-commerce, economic recession, market crash, credit crisis and COVID proof investment capable of multi-generational income

FOR SALE DETAILS

PRICE

$674,000 USD

PRICE/SF

$84 USD /SF

CAP RATE

8.3%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Inv. grade in Vass, NC business district

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

H C

APN/PARCEL ID

9514-07-69-0341

ASK ABOUT THIS PROPERTY

Edward WingateTriple Net Absolute LLCMore Info
864-982-8281

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

Edward WingateTriple Net Absolute LLCMore Info
864-982-8281

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