17895 Glenn StDenton, NC 27239

Property Details for 17895 Glenn St

Year built

2023

Lot size

1.74 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 10,500 square foot Family Dollar Tree combination store in Denton, North Carolina. Built in 2023, the property boasts a 10-year net lease with a corporate guarantee from a credit-rated tenant, ensuring a stable income stream. The lease includes four, five-year renewal options with built-in rent increases, further enhancing the return on investment. Situated on a 1.74-acre lot on a high-traffic thoroughfare, this property benefits from excellent visibility and a strong demographic profile. The property's strong NOI and cap rate make it an attractive addition to any portfolio. The lease commenced October 16, 2023, and expires October 31, 2033. The property's location offers access to a substantial population base with a significant average household income. This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The asking price is $1,813,636, reflecting an 8.25% cap rate based on a net operating income of $149,625. The lease provides for $0.50 per square foot rent bumps at each option period.

Location Insight

City

Denton

County

Davidson

State

North Carolina

Latitude

35.6332

Longitude

-80.1082

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