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Key Details
Sold Price $1,060,000
Property Type Commercial
Sub Type Commercial,Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 9,002 sqft
Price per Sqft $117
Subdivision No Subdivision
MLS Listing ID 10782028
Year Built 2016
Annual Tax Amount $4,984
Tax Year 25
Lot Size 2.000 Acres
Property Sub-Type Commercial,Retail
Property Description
Coldwell Banker Commercial- Metro Brokers is pleased to present this brand new 9,002 SF. Dollar General store located in Cairo, Georgia. The property is incombered by a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 10% rent increases at each of the 5 (5 Year) Options to renew. The lease is a corporate guarantee by Dollar General Corporation which holds a credit rating of "BBB", which is classified as Investment Grade. Placer.ai estimates the annual revenue at the store about $2.4M which yields a very healthy rent to sales ration of under 4%, This Dollar General is highly visible as it is strategically positioned on N. Broad Street with about 8,000 cars per day and within 3-,iles of downtown Cairo. The 10 mile population from the site is 24,663 while the 5-mile average household income is $70,123 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 7.00% cap rate based on the NOI of $84,742.00
Location
State GA
County Grady
Zoning COM
Interior
Heating Central
Cooling Central Air
Exterior
Parking Features Paved, Parking Lot
Garage Spaces 32.0
Utilities Available Electricity Available, High Speed Internet, Phone Available, Sewer Available, Water Available
View Y/N No
Building
Lot Description Level
Sewer Public Sewer
Water Public
Structure Type Other
New Construction No
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Resale
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