For Sale
$2,536,000

18231 Nc-109Denton, NC 27239

High-Yield NNN Lease Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 12,480-square-foot Dollar General Market in Denton, NC, situated on a 1.95-acre lot. The property boasts a new construction, completed in 2024, featuring Dollar General's "next-gen" design, incorporating fresh produce, meats, and other groceries alongside their standard merchandise. This is a single-tenant, absolute NNN lease with a corporate guarantee from Dollar General, a Fortune 500 company with an S&P investment-grade credit rating. The lease commenced June 30, 2024, and has a remaining term of approximately 14.6 years, extending to June 30, 2039, with five, 5-year options. Rent increases by 5% every five years throughout the initial term and options, ensuring consistent income growth. The asking price is $2,536,000, representing a price per square foot of $203.21 and a 6.60% cap rate based on a net operating income (NOI) of $167,328. The property is located in the Winston-Salem MSA, the second-largest city in the Piedmont Triad region of North Carolina, a thriving area with strong economic fundamentals and a diverse population. This location benefits from proximity to major transportation routes, numerous businesses, and educational institutions, including Wake Forest University. The tenant is fully responsible for all operating expenses, including taxes, insurance, common area maintenance (CAM), roof, and building structure. This is a strong, low-risk investment with a highly reputable tenant and a long-term lease.

Highlights

  • $2,536,000 asking price for a 12,480 SF Dollar General retail property.
  • Absolute NNN net lease with corporate guarantee.
  • 14.6 years remaining on a 15-year lease, commencing June 30, 2024, with five 5-year options; 5% rent bumps every 5 years.
  • 6.60% cap rate, $167,328 NOI, $203.21 price per square foot.
  • New construction, 2024 build, located on a 1.95-acre lot in Denton, NC (Winston-Salem MSA).

Property Details for 18231 Nc-109

Property type
Retail properties, Grocery and convenience stores
Square Feet
12,480 SF
Year Built
2024
Lot Size (sq. ft)
84,942 SF

Location Insight

City
Denton
County
Davidson
State
North Carolina
Latitude
35.6264749
Longitude
-80.1086542
18231 Nc-109, Denton, North Carolina

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18231 Nc-109
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