1216 Memorial DrAhoskie, NC 27910

Property Details for 1216 Memorial Dr

Year built

2014

Construction

FRAME

Lot size

0.91 AC

Property size (Sq ft)

8,448 SF

Zone code

B-2

Property type

Retail properties

Property subtype

Retail space

APN

5992-64-4966

APU

5992644966

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-story, 2014-built convenience store in Ahoskie, North Carolina. The property, situated on a 0.91-acre lot at 1216 E Memorial Dr, boasts a 100% occupancy rate with a credit-rated, corporate-guaranteed tenant: Family Dollar. The current lease, a Net Lease (NN+) structure, commenced September 1, 2022, and extends to September 30, 2032, with a remaining term of approximately 8 years. The lease includes five, 5-year renewal options, each with a 5% rent increase. This translates to a strong, stable income stream with built-in rent growth. The property generates a substantial Net Operating Income (NOI) of $115,000, yielding an attractive 8.15% cap rate. The high-traffic location, experiencing approximately 16,000 vehicles per day, serves a population of roughly 16,892 residents within a 5-mile radius. Family Dollar, a subsidiary of Dollar Tree (S&P rated BBB), is a major discount retailer with over 16,000 locations nationwide, demonstrating exceptional financial strength and resilience. This property offers a compelling combination of a strong tenant, a favorable lease structure, and a prime location, making it an ideal addition to any diversified investment portfolio. The asking price is $1,411,403.

Location Insight

City

Ahoskie

County

Hertford

State

North Carolina

Latitude

36.2746

Longitude

-76.9765

Property Tax & Assessments

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