323 Honeysuckle Dr - Convenience Store FOR SALE


Albany, GA 31705
$2,476,985 USD
734-755-6359
323 Honeysuckle Dr, Albany, GA for Sale
$2,476,985 USD
Convenience Store - FOR SALE
1/5
null | 6.5% Cap Rate

323 Honeysuckle Dr
Albany, GA 31705


HIGHLIGHTS

  • Dollar General Market | Produce and Fresh Meats
  • 5% RENT INCREASES EVERY 5 YEARS!!
  • Corner Location Seeing 16,624 Cars Per Day
  • 2024 BTS Construction | Super Sized Footprint
  • Five Mile Population 32,650
  • Corporate Guaranty | One Mile Household Income $67,391

OVERVIEW

Fortis Net Lease is pleased to present this brand new 12,480 SF Dollar General Market store located in Albany, Georgia. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (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 store opening & rent on track to start in October 2024. This Dollar General Market is highly visible as it is strategically positioned on the corner of Honeysuckle Drive & Liberty Expressway (Hwy 19) which sees 16,624 cars per day. The 5 mile population from the site is 32,650 while the 1 mile average household income is $67,391 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 small box discount retailer. List price reflects a 6.50% cap rate based on NOI of $161,004. Instate Broker of Record: Brian Brockman | Bang Realty

FOR SALE DETAILS

PRICE

$2,476,985 USD

PRICE/SF

$198 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

67

LAND DETAILS

LAND ACRES

2.62 AC

LAND SF

114,127 SF

ZONING

C-1

APN/PARCEL ID

00182-00001-008

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.