39603 MS-63 - Convenience Store FOR SALE


Richton, MS 39476
$1,126,640 USD
248-254-3406
39603 MS-63, Richton, MS for Sale
$1,126,640 USD
Convenience Store - FOR SALE
1/6
null | 7.5% Cap Rate

39603 MS-63
Richton, MS 39476


HIGHLIGHTS

  • 15 Year Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 4 (5 Year) Options | 10% Increases At Each Option
  • 2,370 Vehicles Per Day
  • Investment Grade Dollar Store With "BBB" Credit Rating
  • On Main Thoroughfare

OVERVIEW

Fortis Net Lease is pleased to present this 9,244 SF Dollar General store located in Richton, MS. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease has remaining 4 (5 year) options to renew, each with a 10% 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 open & operating successfully since June 2019. This Dollar General is highly visible as it is strategically positioned along MS-63 which sees 2,370 vehicles per day. The ten mile population from the site is 3,375 while the ten mile average household income $66,363 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.

FOR SALE DETAILS

PRICE

$1,126,640 USD

PRICE/SF

$122 USD /SF

CAP RATE

7.5%

% 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

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.27 AC

LAND SF

98,941 SF

ZONING

-

APN/PARCEL ID

033-00-013.00-35

ASK ABOUT THIS PROPERTY

Robert BenderFortis Net LeaseMore Info
248-254-3406

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Robert BenderFortis Net LeaseMore Info
248-254-3406

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