For Sale
$1,049,143

219 Main StWagener, SC 29164

High-return, single-tenant retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General store located at 219 Main St S, Wagener, SC 29164, within the Augusta MSA. The property, built in 2007 and renovated in 2024 for approximately $200,000 (including exterior work, paint, HVAC, and parking lot improvements), boasts 9,240 square feet on a one-acre lot. A 10-year net lease commenced October 3, 2024, and includes five (5) five-year renewal options with 10% rent bumps every five years. The current annual net operating income (NOI) is $73,440, representing a 7.00% cap rate on the $1,049,143 asking price. The tenant, Dollar General, holds an investment-grade credit rating (BBB by S&P) and is publicly traded on the NYSE (DG). The property benefits from its location in the Augusta MSA, the third-largest in Georgia, with a population exceeding 630,000. Wagener's strategic location on US 302 provides easy access to Augusta and Columbia. The area shows strong population growth, with approximately 116,500 people within a 30-minute drive and projected 6.7% growth within a 10-minute radius from 2024-2029. The property's strong tenant, favorable lease terms, and strategic location make it an attractive investment opportunity. Landlord responsibilities are limited to roof and structure

Highlights

  • Investment-grade Dollar General tenant (S&P BBB rating, NYSE: DG) with a long operating history.
  • 10-year net lease with five 5-year renewal options, including 10% rent increases every five years.
  • Recently renovated ($200,000) 9,240 SF building on a one-acre lot.
  • $73,440 annual NOI, representing a 7.00% cap rate on the $1,049,143 asking price.
  • Strong location within the Augusta MSA, benefiting from significant population and projected growth.

Property Details for 219 Main St

Property type
Retail properties, Retail space
Square Feet
9,240 SF
Year Built/Renovated
2007/2024
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF
Units
1

Location Insight

City
Wagener
County
Aiken
State
South Carolina
Latitude
33.647863871138
Longitude
-81.363919969355
219 Main St, Wagener, South Carolina

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219 Main St
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