304 Mutual BlvdPrinceville, NC 27886

For Sale
$948,163
High-Yield Grocery Store in NC

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a fee-simple, 9,014 square-foot Dollar General located at 304 Mutual Blvd, Princeville, NC 27886. Built in 2010 on a 1.33-acre lot, the property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $75,853. The property is currently operating under a 20-year net lease (NN+) with a corporate guarantee from Dollar General, a publicly traded company. The lease commenced on May 20, 2010, and has a remaining term of 5.5 years, with five, five-year renewal options, each including a 10% rent increase. The asking price is $948,163, translating to a price per square foot of $105.19. The property enjoys 100% occupancy and benefits from a low rent and price point, minimizing landlord responsibilities. The location is advantageous, with nearby tenants including Walmart, Lowe's, Starbucks, and Tractor Supply. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and significant remaining lease term. The property is situated in Edgecombe County, North Carolina.

Highlights

  • 9,014 SF Dollar General on 1.33 acres in Princeville, NC.
  • 6+ years remaining on a NN+ lease with five, five-year renewal options, each with a 10% rent increase.
  • Low rent and price point, minimizing landlord responsibilities.
  • Strong tenant mix nearby including Walmart, Lowe's, Starbucks, and Tractor Supply.

Property Details for 304 Mutual Blvd

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,014 SF
Year Built
2010
Lot Size (sq. ft)
57,935 SF

Location Insight

City
Princeville
County
Edgecombe
State
North Carolina
Latitude
35.8898533
Longitude
-77.527717
304 Mutual Blvd, Princeville, North Carolina

FAQs

What type of property is this?
Retail property - High-Yield Grocery Store in NC
Where is the retail property located?
The property is located at 304 Mutual Blvd Princeville, NC.
What is the asking price?
The asking price for this property is $948,163.
What are key features of this property?
This property features: 9,014 SF Dollar General on 1.33 acres in Princeville, NC.; 6+ years remaining on a NN+ lease with five, five-year renewal options, each with a 10% rent increase.; Low rent and price point, minimizing landlord responsibilities.
How can I contact the broker?
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304 Mutual Blvd
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