For Sale
$1,610,000

224 Main StLobelville, TN 37097

10,500 SF, 9.3-year lease, 7.5% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 10,500-square-foot Family Dollar and Dollar Tree combo store in Lobelville, Tennessee. Located at 224 N Main St, this property boasts a prime location on a major thoroughfare connecting to I-40, less than 10 miles away. The 1.16-acre lot houses a newly constructed building (2024) operating under a triple-net (NNN) lease with a remaining term of 9.3 years (commencing February 7, 2024, and expiring February 28, 2034). The lease includes four 5-year options with $0.50 per square foot rent increases at each option. Landlord responsibilities are limited to roof and structure maintenance. The property enjoys 100% occupancy and generates a strong net operating income (NOI) of $120,750, resulting in a compelling 7.50% capitalization rate. The asking price is $1,610,000 ($153.33 per square foot). This investment benefits from the proven success of the Family Dollar/Dollar Tree combo store model in tertiary markets, limited direct competition (Dollar General and Piggly Wiggly Xpress are the only other discount stores nearby), and favorable demographics, with an average household income within a 5-mile radius exceeding $83,223. This presents a rare chance to acquire a high-performing retail asset with significant long-term potential in a stable market.

Highlights

  • Brand new Family Dollar store with a new 10-year lease.
  • Strong tenant in a tertiary market with comp sales exceeding 20%.
  • NNN lease; landlord responsible only for roof and structure.
  • Average household income within 5 miles is $83,223.
  • Limited direct competition from other discount stores.
  • Four 5-year options with $0.50/SF rent increases.

Property Details for 224 Main St

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,500 SF
Year Built
2024
Lot Size (sq. ft)
50,530 SF

Location Insight

City
Lobelville
County
Perry
State
Tennessee
Latitude
35.7750201
Longitude
-87.781919
224 Main St, Lobelville, Tennessee

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224 Main St
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