7071 Us-421Lillington, NC 27546

Property Details for 7071 Us-421

Year built

2016

Lot size

1.27 AC

Property size (Sq ft)

8,320 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 7071 US-421, Lillington, NC 27546. The 8,320-square-foot property sits on a 1.27-acre lot and boasts a strong 8.50% cap rate, generating a net operating income (NOI) of $88,692. Built in 2016, the property is currently 100% occupied under a lease with a credit-rated tenant backed by a corporate guarantee. The lease commenced October 1, 2016, and has a remaining term of approximately 3.4 years, with six 5-year renewal options at a 7.50% rent increase. The tenant is responsible for all HVAC repairs and replacements. This location benefits from a healthy demographic profile, with a population exceeding 7,322 within a 5-mile radius, exhibiting a positive 5% growth rate between 2010 and 2022. The property's strategic location, approximately 38 miles from Raleigh, NC, further enhances its appeal. The asking price is $1,043,435, translating to a price per square foot of $125.41. This presents a compelling investment opportunity with a proven track record and limited local retail competition. The property's strong tenant, favorable lease terms, and robust demographics make it an attractive addition to any portfolio. The lease is a triple-net (NNN) lease.

Location Insight

City

Lillington

County

Harnett

State

North Carolina

Latitude

35.4194

Longitude

-78.9372

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