For Sale
$1,361,265

4628 Ogeechee RdSavannah, GA 31405

High-yield retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This fee-simple retail property in Savannah, GA, offers a compelling investment opportunity. The 9,014 square foot Dollar General store, built in 2011, sits on a 1.25-acre lot at 4628 Ogeechee Rd, zip code 31405. The property is currently 100% occupied under a Net Lease (NN+) agreement with Dollar General, a credit-rated tenant with a corporate guarantee. The lease, commencing June 29, 2011, has a remaining term of approximately 1.6 years, followed by four 5-year options with 10% rent increases in each. The current annual Net Operating Income (NOI) is $112,985, resulting in an 8.30% cap rate and a price per square foot of $151.02. The asking price is $1,361,265. The property benefits from high traffic counts (over 29,500 vehicles daily) on Ogeechee Road (Highway 17), a strong demographic area with over 101,000 people within a five-mile radius, and proximity to numerous residential communities and national retailers including Badcock Home Furniture, Bojangles, Mavis Tires & Brakes, Dunkin', Taco Bell, Firehouse Subs, McDonald's, Sonic, and more. The property's location near Carrie E. Gould Elementary School further enhances its appeal. This is a well-positioned, high-performing asset with a strong tenant and significant upside potential.

Highlights

  • Double Net (NN) Lease with minimal landlord responsibilities.
  • Corporate guarantee from Dollar General.
  • Investment-grade tenant (S&P BBB rating).
  • 10% rent increase in each of four 5-year option periods.
  • 9,014 SF building on a 1.25-acre lot, upgraded brick construction.
  • High traffic count: over 29,500 vehicles per day on Ogeechee Rd (Highway 17).

Property Details for 4628 Ogeechee Rd

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,014 SF
Year Built
2011
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Savannah
County
Chatham
State
Georgia
Latitude
32.0460814
Longitude
-81.1778804
4628 Ogeechee Rd, Savannah, Georgia

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4628 Ogeechee Rd
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