2890 Highway 66Rogersville, TN 37857

Property Details for 2890 Highway 66

Year built

2024

Lot size

2.05 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a newly constructed (2024), 10,500-square-foot Family Dollar and Dollar Tree storefront located at 2890 Hwy 66 S in Rogersville, Tennessee. The property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $135,419, supported by a 100% occupancy rate. The investment is structured as a triple-net (NNN) lease with a corporate guarantee from Family Dollar Stores, Inc., a company with a strong S&P BBB credit rating, ensuring financial stability. The 10-year initial lease term provides long-term security. Situated on a 2.05-acre lot at a high-traffic corner with full access from both Hwy 66 S and TN-70, the property benefits from an average daily traffic count of 27,095 vehicles. The location is strategically advantageous, positioned directly across from Cherokee High School (1,130 students and faculty), serving a community with a growing population (three times the national average) and a low unemployment rate (3.0% as of May 2024). Furthermore, over 40% of the community holds post-secondary education. This property offers a compelling combination of strong tenant, favorable lease terms, and a prime location within a thriving market, making it an ideal addition to any investment portfolio. The asking price is $1,692,738, translating to a price per square foot of $161.21.

Location Insight

City

Rogersville

County

Hawkins

State

Tennessee

Latitude

36.3707

Longitude

-83.0145

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