6513 Tn-28Dunlap, TN 37327

Property Details for 6513 Tn-28

Year built

2004

Lot size

1.34 AC

Property size (Sq ft)

9,174 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple ownership of a Dollar General store in Dunlap, Tennessee. The 9,174 square foot building, constructed in 2004, sits on a 1.34-acre lot at 6513 TN-28, 37327. The property boasts a strong 8.35% cap rate, generating a net operating income (NOI) of $44,220. The current lease, a triple-net (NNN) agreement with a credit-rated, corporate-guaranteed tenant, commenced May 1, 2004, and expires April 30, 2029, with 4.5 years remaining. Three five-year lease options exist, each including a 10% rent increase. Dollar General, a highly reputable and essential retailer with a significant market cap, has demonstrated exceptional performance and stability. The property's location is advantageous, situated directly off Highway 28 and within close proximity to other national retailers and schools, serving a community with an average household income of $72,506. This presents a compelling investment opportunity with a low price point of $529,581, offering both strong current income and significant future potential. The property is 100% occupied.

Location Insight

City

Dunlap

County

Sequatchie

State

Tennessee

Latitude

35.3462

Longitude

-85.4076

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