Dollar General

  • $1.3M
6825 Phenix Main Street, Phenix, VA 23959, USA

Dollar General

6825 Phenix Main Street, Phenix, VA 23959, USA
  • $1.3M

Sub listings

Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN
leased, corporate guaranteed, Dollar General investment property located in Phenix, Virginia. The tenant, Dollar General, recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating a strong commitment to the site. The lease features a 9% rental increase at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord 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 and Poors.
The subject property is strategically located on Phenix Main St. / State Highway 40 – one of the main thoroughfares in town. Phenix is located 93 miles southwest of Richmond VA, 79 miles east of Roanoke VA, and 108 miles north of Raleigh NC. The town of Phenix is an ideal location for the Dollar General business model, featuring a sparse population with low-to-middle level incomes. The 5-mile trade area is supported by a population of 1,837 residents with an average household income of $53,428.

Investment Highlights
15 Years Remaining | Corporate Guaranteed Lease | New Construction
Absolute NNN Lease | Fee Simple Ownership | Zero Management Responsibilities
Investment Grade Tenant Dollar General (NYSE: DG | S&P: BBB)
Ideal Brand Demographics In the 5-mile Trade Area

Broker of Record
David Wirth
License: VA 0225198340

Details

Updated on April 12, 2020 at 6:38 pm
  • Property ID: 30816
  • Price: $1.3M
  • Property Size: 7489 sqft
  • Year Built: 2019
  • Property Type: Retail
  • Property Status: For Sale
  • Lot Size (acres): 1.49
  • Tenancy: Single
  • Cap Rate: 6.70%
  • Net Operating Income: 84,051

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee, Credit Rate
  • Remaining Term: 15 years
  • Zoning: Business
  • Parking (spaces): 28
  • APN: 36A2-1-6-2; 36A2-1-6-19; 36A2-1-6-25
  • Lease Options: 5 (5-Year)
  • Ownership: Fee Simple (Land and Building)
  • Address 6825 Phenix Main Street, Phenix, VA 23959, USA
  • City Phenix
  • State/county Virginia
  • Zip/Postal Code 23959
  • 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