308 Walnut StFairmont, NC 28340

Property Details for 308 Walnut St

Year built

2024

Lot size

1.81 AC

Property size (Sq ft)

12,480 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 12,480-square-foot Dollar General store in Fairmont, North Carolina. Built in 2024, this property sits on a 1.81-acre lot at a high-traffic intersection (9,050 ADT on S. Walnut Street and 2,400 ADT on Cottage Street), offering excellent visibility and accessibility. The property benefits from a 15.1-year absolute NNN lease with a prominent national tenant, Dollar General, ensuring consistent cash flow. The lease includes attractive 5% rent increases every five years, providing built-in protection against inflation. The current Net Operating Income (NOI) is $144,492, yielding a 6.75% cap rate. This location is strategically positioned in a growing market, serving a large trade area with limited competition. The nearest comparable Dollar General stores are located at a significant distance, highlighting the potential for strong sales and returns. The property's location in Robeson County, North Carolina, offers easy access to major highways (I-95 and I-74), placing it within convenient reach of both coastal and mountain destinations. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant long-term growth potential. The lease has 5x5 options with 5% increases in each. The lease commenced September 11, 2024, and expires September 30, 2039. The asking price is $2,140,622.

Location Insight

City

Fairmont

County

Robeson

State

North Carolina

Latitude

34.4963

Longitude

-79.1123

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