For Sale
$1,893,333

3311 Ridge RdMacon, GA 31217

High-Yield Retail Investment; Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,542 square foot Dollar General Plus store in Macon, Georgia. Built in 2023, this premium-constructed building (not a typical three-sided metal structure) is situated on a 3.5-acre lot at 3311 Ridge Rd, 31217. The property boasts a 14-year remaining lease term (initial 15-year lease commencing August 1, 2023, and expiring July 31, 2038) with five, 5-year renewal options, each including a 10% rent increase. The absolute NNN lease structure eliminates management responsibilities, and the tenant, Dollar General Corporation, provides a corporate guarantee. The property enjoys a 6.75% cap rate and a strong net operating income (NOI) of $127,800. The location benefits from a robust 5-mile population of approximately 31,307 residents, with an average household income of $71,624, aligning with Dollar General's target demographic. Dollar General's investment-grade credit rating (BBB, S&P) and its status as an essential retailer further enhance the investment's security and potential for long-term growth. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with a blue-chip tenant in a desirable location. The property's size, lease terms, and tenant strength make it an attractive addition to any portfolio.

Highlights

  • $1,893,333 asking price for a 10,542 SF retail property in Macon, GA.
  • Absolute NNN lease with a credit-rated, corporate-guaranteed tenant (Dollar General).
  • 14 years remaining on a 15-year lease with five 5-year options at 10% rent increases.
  • 100% occupancy with a $127,800 annual NOI and a 6.75% cap rate.
  • New 2023 construction; Dollar General Plus store (larger format) indicating projected high sales volume.
  • Strong demographics: 31,307 residents within a 5-mile radius, average household income of $71,624.

Property Details for 3311 Ridge Rd

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,542 SF
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
152,460 SF

Location Insight

City
Macon
County
Twiggs
State
Georgia
Latitude
32.8515345
Longitude
-83.4855446
3311 Ridge Rd, Macon, Georgia

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3311 Ridge Rd
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