224 Main StLobelville, TN 37097

Property Details for 224 Main St

Year built

2024

Lot size

1.16 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 10,500-square-foot Family Dollar and Dollar Tree combo store in Lobelville, Tennessee. Located at 224 N Main St, this property boasts a prime location on a major thoroughfare connecting to I-40, less than 10 miles away. The 1.16-acre lot houses a newly constructed building (2024) operating under a triple-net (NNN) lease with a remaining term of 9.3 years (commencing February 7, 2024, and expiring February 28, 2034). The lease includes four 5-year options with $0.50 per square foot rent increases at each option. Landlord responsibilities are limited to roof and structure maintenance. The property enjoys 100% occupancy and generates a strong net operating income (NOI) of $120,750, resulting in a compelling 7.50% capitalization rate. The asking price is $1,610,000 ($153.33 per square foot). This investment benefits from the proven success of the Family Dollar/Dollar Tree combo store model in tertiary markets, limited direct competition (Dollar General and Piggly Wiggly Xpress are the only other discount stores nearby), and favorable demographics, with an average household income within a 5-mile radius exceeding $83,223. This presents a rare chance to acquire a high-performing retail asset with significant long-term potential in a stable market.

Location Insight

City

Lobelville

County

Perry

State

Tennessee

Latitude

35.775

Longitude

-87.7819

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