105 Armstead CirGriffin, GA 30223

Property Details for 105 Armstead Cir

Year built

2024

Lot size

1.40 AC

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a newly constructed (2024), freestanding Dollar General Market store located at 105 Armstead Cir, Griffin, GA 30223, within the Atlanta Metro Area. The property boasts a 1.4-acre lot and features upgraded four-sided full brick construction. This single-tenant, net-leased (NNN) property offers a substantial 14.9 years remaining on a 15.1-year lease, commencing September 13, 2024, and expiring September 30, 2039. The lease includes a favorable rent structure with a 5% increase every five years throughout the initial term and each option period. The property enjoys excellent visibility, with over 5,960 vehicles passing daily. The surrounding area demonstrates strong demographics, with a household income exceeding $90,739 within a 10-mile radius and a population of over 115,716 within the same area. Griffin, GA's strategic location, approximately 2 miles from Downtown Griffin and 36 miles from Downtown Atlanta, further enhances its appeal. The property's current Net Operating Income (NOI) is $159,960, resulting in a compelling 6.50% cap rate. This sale is for a leaseback, and the asking price is $2,460,923. The credit-rated Dollar General tenant ensures a secure and stable investment. The property is 100% occupied.

Location Insight

City

Griffin

County

Spalding

State

Georgia

Latitude

33.2783

Longitude

-84.2613

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