2028 S Eddy St - Convenience Store FOR SALE


Pecos, TX 79772
$399,000 USD
248-254-3409
2028 S Eddy St, Pecos, TX for Sale
$399,000 USD
Convenience Store - FOR SALE
1/5
null | 8.58% Cap Rate

2028 S Eddy St
Pecos, TX 79772


HIGHLIGHTS

  • Ownership Consists of the Dollar General & Parking Lot in Front of DG
  • UPDATES INCLUDE: New Roof in 2020, New Paving in 2017, New HVAC in 2016
  • Three Mile Household Income $76,391
  • Ten Mile Population 12,263
  • 10,251 Cars Per Day on S. Eddy Street
  • Only 2 Miles from the Pecos Municipal Airport

OVERVIEW

Fortis Net Lease is pleased to present this brand new 9,856 SF. Dollar General store located in Pecos, Texas in a strip center with 3 other tenants (DG also uses an area for storage purposes so full space SF is around 15,210). The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains One (5 year) option to renew with a 15% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been operating successfully since rent commenced in 1999. This Dollar General is highly visible as it is strategically positioned on S. Eddy Street which sees 10,251 cars per day. It is surrounded by residential homes & local businesses. The ten mile population from the site is 12,263 while the three mile average household income $76,391 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 8.58% cap rate based on NOI of $34,221. Cooperating Broker: Brian Brockman | Bang Realty

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$40 USD /SF

CAP RATE

8.58%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-1

APN/PARCEL ID

0011187

ASK ABOUT THIS PROPERTY

Ben SchultzFortis Net LeaseMore Info
248-254-3409

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

Ben SchultzFortis Net LeaseMore Info
248-254-3409

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