The Hurd Net Lease Group with Marcus and Millichap is pleased to exclusively offer for sale the Dollar General located at 474 CR 514 in Rienzi, Mississippi. The investment is being offered at $934,903 which represents an 8.75% capitalization rate.
The subject property was built-to-suit for Dollar General in 2013 and consists of approximately 9,100 rentable square feet.. The tenant is encumbered by an original 15-year double net lease structure which runs through March of 2028, accompanied by multiple five-year renewal options. Each renewal option contains rental increases every five years.
Dollar General is responsible for HVAC repair and replacement, contributes $308/month towards common area maintenance pays insurance and reimburses for real estate taxes. Additionally, the tenant reimburses for the cost of all repairs on the property that do not constitute capital expenditures.
Rienzi, Mississippi is located in Alcorn County, which is is just 39 miles north of Tupelo. This site is located on the corner of US Highway 45 and experiences nearly 15,000 vehicles passing the site daily.