48 Highway 51 - Convenience Store FOR SALE


Pickens, MS 39146
$1,151,507 USD
248-254-3406
48 Highway 51, Pickens, MS for Sale
$1,151,507 USD
Convenience Store - FOR SALE
1/5
null | 7.5% Cap Rate

48 Highway 51
Pickens, MS 39146


HIGHLIGHTS

  • 15 Year Absolute NNN Lease
  • Zero Landlord Responsibilities
  • 4 (5 Year) Options | 10% Increases At Each Option
  • 10 Mile Population 5,841
  • 1,953 Vehicles Per Day
  • Investment Grade Dollar Store With "BBB" Credit Rating

OVERVIEW

Fortis Net Lease is pleased to present this 9,232 SF Dollar General store located in Pickens, 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 February 2019. This Dollar General is highly visible as it is strategically positioned along US-51 which sees 1,953 vehicles per day. The ten mile population from the site is 5,841 while the ten mile average household income $48,093 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

$1,151,507 USD

PRICE/SF

$125 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

27

LAND DETAILS

LAND ACRES

3.36 AC

LAND SF

146,577 SF

ZONING

-

APN/PARCEL ID

0520815501

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.