For Sale
$1,351,000

308 Blowing Rock Blvd Lenoir, NC 28645

High-yield Dollar General investment. Strong tenant, long lease.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a fee-simple owned Dollar General located at 308 Blowing Rock Blvd, Lenoir, NC 28645. The 9,100 square foot property sits on a 1.22-acre lot and boasts 54 parking spaces. Built in 2012, this grocery store and storefront is situated in a high-visibility location on a primary thoroughfare, Blowing Rock Road, benefiting from excellent visibility and accessibility. The property features a 15-year Net Lease (NN) with a corporate guarantee from Dollar General, a nationally recognized, investment-grade (S&P: BBB) company. The current lease commenced March 1, 2012, and has approximately 2.3 years remaining, expiring March 1, 2027. The property enjoys 100% occupancy, generating a Net Operating Income (NOI) of $97,920, resulting in a 7.25% cap rate. The asking price is $1,351,000, translating to $148.46 per square foot. The property is zoned for General Commercial use and benefits from nearby new development and strong surrounding retail. Dollar General has a proven track record at this location, operating successfully for over 12 years. This offering includes the land and building. Note: This asset must be purchased with a separate Family Dollar property in Macon, GA (3656 Jeffersonville Road). Further details on the portfolio sale are available upon request.

Highlights

  • $1,351,000 asking price for a 9,100 SF Dollar General in Lenoir, NC, offering a 7.25% cap rate and $97,920 NOI.
  • Net lease, fee simple ownership with minimal landlord responsibilities; corporate guaranteed lease.
  • High-visibility location on Blowing Rock Blvd, a major thoroughfare, with new development nearby and strong surrounding retail.
  • Strong, investment-grade tenant (S&P: BBB) with a 12+ year operating history and 2+ years remaining on lease; Dollar General opened 1,000+ new stores in 2022.
  • 1.22-acre lot with 54 parking spaces.

Property Details for 308 Blowing Rock Blvd

Property type
Retail properties, Retail space
Square Feet
9,100 SF
Year Built
2012
Lot Size (sq. ft)
53,143 SF

Location Insight

City
Lenoir
County
Caldwell
State
North Carolina
Latitude
35.9188623
Longitude
-81.523023

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FAQs

What type of property is this?
Retail property - High-yield Dollar General investment. Strong tenant, long lease.
Where is the retail property located?
The property is located at 308 Blowing Rock Blvd Lenoir, NC.
What is the asking price?
The asking price for this property is $1,351,000.
What are key features of this property?
This property features: $1,351,000 asking price for a 9,100 SF Dollar General in Lenoir, NC, offering a 7.25% cap rate and $97,920 NOI.; Net lease, fee simple ownership with minimal landlord responsibilities; corporate guaranteed lease.; High-visibility location on Blowing Rock Blvd, a major thoroughfare, with new development nearby and strong surrounding retail.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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Contacts

Britt Raymond
Britt Raymond
Kyle Fant
Kyle Fant
Charlie Goldman
Visit Broker Website

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Useful Information

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Blowing Rock Blvd
Lenoir, NC 28645

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Blowing Rock Blvd
Lenoir, NC 28645

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

308 Blowing Rock Blvd
  • Britt Raymond
    Britt Raymond
  • Kyle Fant
    Kyle Fant
  • Charlie Goldman
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