For Sale
$2,651,393

1221 Lynn Garden DrKingsport, TN 37665

High-yield, NNN-leased convenience store.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, free-standing Dollar General store in Kingsport, Tennessee. Located at 1221 Lynn Garden Dr, Kingsport, TN 37665, this Class A property boasts 10,542 square feet on a 1.15-acre lot with 36 parking spaces. The property features a 15-year absolute NNN lease, commencing May 31, 2024, and expiring May 31, 2039, with five, five-year renewal options. Rent increases by 5% every five years throughout the primary term and each option period. The tenant, Dollar General, is investment-grade, providing a corporate guarantee and ensuring a stable income stream. The property's strong financial performance is reflected in its 6.25% cap rate and a net operating income (NOI) of $165,712. The asking price is $2,651,393, translating to a price per square foot of $251.51. This single-tenant, single-story building was constructed in 2024 and enjoys 100% occupancy. The Kingsport-Johnson City-Bristol MSA provides a robust market for this type of retail investment. This is a compelling opportunity for investors seeking a secure, high-return investment with a credit-rated tenant and significant lease term remaining.

Highlights

  • NNN single-tenant investment opportunity.
  • Located in the Kingsport-Johnson City-Bristol MSA.
  • 15-year lease with five, five-year options.
  • 5% rent increases every five years.
  • Corporate guarantee by Dollar General.

Property Details for 1221 Lynn Garden Dr

Property type
Lifestyle centers, Power centers
Square Feet
10,542 SF
Class
A
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
50,094 SF

Location Insight

City
Kingsport
County
Sullivan
State
Tennessee
Latitude
36.5764804
Longitude
-82.5673141
1221 Lynn Garden Dr, Kingsport, Tennessee

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1221 Lynn Garden Dr
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