2890 Tn-66Rogersville, TN 37857

Property Details for 2890 Tn-66

Year built

2024

Lot size

2.05 AC

Property size (Sq ft)

10,500 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a newly constructed (2024), 10,500 square foot shopping center in Rogersville, Tennessee, boasting a 7.6% cap rate. The property is situated on a 2.05-acre lot at 2890 TN-66 and features a large, low-maintenance concrete parking area. A 10-year, double-net (NN) lease is in place with Family Dollar/Dollar Tree, guaranteed by Family Dollar Stores of Tennessee, LLC, commencing March 31, 2024, and expiring April 1, 2034. The lease includes two 5-year renewal options with $0.50 per square foot rent increases every five years, beginning in 2029. The tenant, Dollar Tree (DLTR), is a financially strong, investment-grade (S&P: BBB) company with $26.32 billion in revenue. The property's strategic location between Knoxville and Kingsport ensures high visibility and accessibility. The Net Operating Income (NOI) is $135,419 annually. The asking price is $1,781,829, translating to a price per square foot of $169.70. This is a rare opportunity to acquire a high-performing, low-maintenance retail property with a strong tenant and significant long-term growth potential. The property is 100% occupied.

Location Insight

City

Rogersville

County

Hawkins

State

Tennessee

Latitude

36.3708

Longitude

-83.0145

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