225 Highway 90 - Convenience Store FOR SALE


Albany, KY 42602
$921,840 USD
734-755-6359
225 Highway 90, Albany, KY for Sale
$921,840 USD
Convenience Store - FOR SALE
1/7
null | 8% Cap Rate

225 Highway 90
Albany, KY 42602


HIGHLIGHTS

  • Absolute NNN Lease | Zero Landlord Responsibilities.
  • 2016 BTS Construction | Concrete Parking Lot.
  • 4,715 Cars Per Day | Near Signalized Corner.
  • Dollar General Corporate Guaranty | 20,000+ Stores Nationwide.

OVERVIEW

Fortis Net Lease is pleased to present this 9,100 SF. Dollar General store in Albany, Kentucky. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities and having 5 years left on the primary term. The lease contains 5 (5 year) options to renew, each with a 10% 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 successfully opened for business since March 2016. This Dollar General is highly visible as it is strategically positioned off of KY-90 which sees 4,715 cars per day, across from the Baymont by Wyndham Hotel. The 10 mile population from the site is 11,547 while the 3 mile average household income is $61,409 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 small box discount retailer. List price reflects a 8.00% cap rate based on the initial NOI of $73,747.20.

FOR SALE DETAILS

PRICE

$921,840 USD

PRICE/SF

$101 USD /SF

CAP RATE

8%

% 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

2016

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,892 SF

ZONING

C-1

APN/PARCEL ID

027-00-00-016.15

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 Policy.