619 Corsicana StAthens, TX 75751

Property Details for 619 Corsicana St

Year built

2012

Lot size

1.12 AC

Property size (Sq ft)

12,560 SF

Property type

Commercial real estate

APN

2050-0084-0010-01

APU

20500084001001

Description

This exceptional investment opportunity presents a 12,480-square-foot Dollar General convenience store and storefront located at 619 W Corsicana St, Athens, TX 75751. The property sits on a 1.22-acre lot and is offered at $2,020,000, representing a price per square foot of $161.86 and a 6.50% cap rate. The property boasts a Net Lease (NNN) structure with a single tenant, Dollar General, under a corporate guaranteed lease. The current lease commenced April 1, 2013, and expires March 31, 2028, leaving approximately 3.4 years remaining. The lease includes 3-5 year option periods with a 10% rent increase at each renewal. The property generates a Net Operating Income (NOI) of $131,350, reflecting 100% occupancy. Dollar General, rated "BBB" by Standard & Poor's, operates over 20,000 stores nationwide, demonstrating financial strength and stability. This presents a low-management, high-return investment in a tax-free state, ideal for 1031 exchange purposes. The property benefits from a diversified economic base in Athens, Texas, encompassing tourism, finance, retail, services, and healthcare. This is a rare opportunity to acquire a high-quality, single-tenant NNN investment with a strong tenant and significant remaining lease term.

Location Insight

City

Athens

County

Henderson

State

Texas

Latitude

32.2039

Longitude

-95.8674

CBSA code

11980

CBSA name

ATHENS, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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