For Sale
$1,187,000

3196 Old Stage RdRiegelwood, NC 28456

Family Dollar Net Lease, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 9,180 square foot, single-story Class A convenience store in Riegelwood, North Carolina. The property, built in 2007 and situated on a 1.35-acre lot at 3196 Old Stage Rd, is currently 100% occupied by a Family Dollar store under a Net-Net lease with a corporate guarantee. The lease, originally commencing December 5, 2007, has a remaining term of approximately 3.1 years, with three 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $91,960, resulting in an attractive 7.75% capitalization rate. The asking price is $1,187,000, translating to $129.30 per square foot. This investment offers a strong, recession-resistant tenant with a proven track record and significant brand recognition, providing a passive income stream with built-in inflation protection. The property's long-term lease and the tenant's financial strength make this an ideal addition to any diversified real estate portfolio. The tenant has consistently occupied the premises since its construction, demonstrating a commitment to the location and its success. This is a rare opportunity to acquire a well-performing, established retail property with a highly desirable tenant in a stable market.

Highlights

  • 7.75% Cap Rate, Net-Net Lease with a recent 5-year lease extension by investment-grade tenant Family Dollar (BBB S&P rating).
  • Strong national tenant: Family Dollar, a subsidiary of Fortune 500 company Dollar Tree (DLTR), operating over 8,200 locations.
  • Recession-resistant business model: Essential business with proven e-commerce and discount merchandising strategies, showing recent same-store sales growth.
  • Long-term stability: Over 15 years of continuous operation at this location since 2007.
  • Passive income and inflation hedge: Net-Net lease with minimal landlord responsibilities and 10% rental increases in lease options.

Property Details for 3196 Old Stage Rd

Property type
Retail properties, Retail space
Square Feet
9,180 SF
Class
A
Year Built
2007
Buildings
1
Stories
1
Lot Size (sq. ft)
58,806 SF

Location Insight

City
Riegelwood
County
Columbus
State
North Carolina
Latitude
34.3431435
Longitude
-78.227099
3196 Old Stage Rd, Riegelwood, North Carolina

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3196 Old Stage Rd
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