429 Old NC 277 Loop Rd - Freestanding FOR SALE


Dallas, NC 28034
$2,367,814 USD
949-662-1296
429 Old NC 277 Loop Rd, Dallas, NC for Sale
$2,367,814 USD
Freestanding - FOR SALE
1/1
null | 6.45% Cap Rate

429 Old NC 277 Loop Rd
Dallas, NC 28034


HIGHLIGHTS

  • Long-Term Lease with New Rental Escalations
  • Strong Demographics | 187K+ Pop. (10-Mi) & $82K+ AHHI (3-Mi)
  • Investment Grade Corporate Guaranty (S&P: BBB/Stable)
  • Strategic Location
  • Brand-New Build-to-Suit Construction
  • Passive NNN Lease

OVERVIEW

Northmarq, on behalf of ownership as its exclusive advisor, is pleased to present the opportunity to acquire the fee simple ownership interest in the brand new Dollar General property located at 429 Old NC 277 Loop Rd in Dallas, NC (“Property”). The Property comprises a 10,640 square foot building on 2.23 acres of land. The Property is projected to finish construction in September 2024 and feature upgraded brick and hardie plank construction, offering higher quality than the traditional metal exterior model. The Property is subject to a long-term NNN lease which is guaranteed by Dollar General Corporation (“Tenant”), the largest discount retailer in the United States with over 19,294 locations in 47 U.S. states and Mexico. Dollar General carries an investment grade credit rating of BBB/Stable by S&P Global Ratings. The Property features direct frontage on Dallas Cherryville Hwy, providing visibility to over 12,000 VPD. The surrounding 3-mile area boasts an average household income of $82,439, indicating a strong customer base. The Property provides entirely passive ownership and an income stream net of all operating expenses. Tenant is subject to a brand-new 15-year lease, providing income security through September 2039 and rental escalations of 5% every five years including in each of the five, five-year renewal options. This Offering is a rare opportunity to invest in a highly passive asset backed by a top-rated national tenant. In Association With Jason Long, NC License #338124.

FOR SALE DETAILS

PRICE

$2,367,814 USD

PRICE/SF

$223 USD /SF

CAP RATE

6.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.22 AC

LAND SF

96,510 SF

ZONING

-

APN/PARCEL ID

170386

ASK ABOUT THIS PROPERTY

Brett ButlerNorthmarqMore Info
949-662-1296

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Brett ButlerNorthmarqMore Info
949-662-1296

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