For Sale
$735,000

7519 Theodore Dawes RdTheodore, AL 36582

Alabama Retail Investment, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This single-tenant, 9,016 square foot Dollar General storefront in Theodore, Alabama, presents a compelling investment opportunity. The property boasts a strong 8.08% cap rate and a substantial net operating income (NOI) of $59,400. Currently operating under a Net Lease (NN+) agreement with a corporate guarantee, the lease features three 5-year renewal options, extending the lease term to 2025. The property sits on a 0.95-acre lot with 30 parking spaces and enjoys excellent visibility due to its 127-foot frontage. Built in 2005, the single-story building is situated in an un-zoned county area and benefits from high daily traffic counts of 17,600 vehicles. The tenant, Dollar General, has consistently maintained the property, recently upgrading refrigerated coolers and outdoor lighting in 2023. The asking price is $735,000, translating to $81.52 per square foot. The land value alone is $2.25 per square foot. This property offers a secure, long-term investment with a proven track record and significant upside potential. The lease commenced September 28, 2005, and expires August 31, 2025, leaving approximately 0.8 years remaining on the current term. The property is held in trust.

Highlights

  • $735,000 asking price for a Dollar General net lease property.
  • 8.08% cap rate with a $59,400 NOI.
  • 9,016 square foot building on a 0.95-acre lot in Theodore, Alabama.
  • 19.9-year lease with approximately 0.8 years remaining; three 5-year options exist.
  • Corporate guaranteed lease with rent bumps in options.

Property Details for 7519 Theodore Dawes Rd

Property type
Retail properties, Retail space
Square Feet
9,016 SF
Class
C
Year Built
2005
Buildings
1
Stories
1
Lot Size (sq. ft)
41,382 SF
Units
1

Location Insight

City
Theodore
County
Mobile
State
Alabama
Latitude
30.567319995805
Longitude
-88.218469094223
7519 Theodore Dawes Rd, Theodore, Alabama

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7519 Theodore Dawes Rd
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