Dollar General

  • $1.5M
3151 Union Chapel Rd, Pembroke, NC 28372, USA

Dollar General

3151 Union Chapel Rd, Pembroke, NC 28372, USA
  • $1.5M

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Title Property Type Price Beds Baths Property Size Availability Date


Marketing Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a newly constructed, corporate guaranteed, Dollar General investment property located in Pembroke, NC. The tenant, Dolgencorp, LLC, recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN in nature with ZERO management responsibilities as Dollar General is responsible for ALL operating expenses, insurance, and property taxes. The lease is guaranteed by Dollar General Corp (NYSE: DG) with an investment-grade credit rating of BBB from Standard & Poors.
The subject property is strategically positioned at the intersection of Union Chapel Rd. and State Highway 72 (7,100 combined VPD), the main thoroughfare in town. It is located near the Union Chapel Elementary School and within 3 miles of the University of North Carolina at Pembroke (7,137 students), increasing consumer draw to the immediate trade area. The site benefits from the extremely limited amount of competition, being the only major grocery/variety store within 4 miles. The subject’s surrounding area is an ideal location for the Dollar General prototype business model, featuring a relatively low population with middle-level incomes. Specifically, the 5-mile trade area is supported by 21,400 residents with a healthy average income of $51,200.

Investment Highlights
Corporate Guaranteed Lease | Options To Extend | Scheduled Rental Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Located along State Highway 72 | Large Pylon Sign | Limited Competition
The University of North Carolina at Pembroke | Local Demographics In 5-mile Trade Area

Broker of Record
Ray Uttenhove
License: 267848


Updated on April 12, 2020 at 5:25 am
  • Property ID: 30731
  • Price: $1.5M
  • Property Size: 9100 sqft
  • Year Built: 2019
  • Property Type: Retail
  • Property Status: For Sale
  • Lot Size (acres): 1.14
  • Tenancy: Single
  • Cap Rate: 6.25%
  • Net Operating Income: 93,738

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee
  • Zoning: H1: Highway District
  • Parking (spaces): 30
  • APN: 40903020
  • Lease Options: 5 (5-Year)
  • Ownership: Fee Simple (Land & Building)
  • Address 3151 Union Chapel Rd, Pembroke, NC 28372, USA
  • City Pembroke
  • State/county North Carolina
  • Zip/Postal Code 28372
  • Country United States

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Contact Information

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Britt Raymond
  • Britt Raymond
  • (929) 229-2614

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Britt Raymond
  • Britt Raymond