Elm City, NC - Dollar General Market

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Dollar General Market investment property located in Elm City, North Carolina. The tenant, Dollar General, recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The newly-constructed building will feature a state-of-the-art design with high-quality materials. As of May 3, 2024, the Company has 20,149 Dollar General, DG Market, DGX and Popshelf stores across the United States providing everyday essentials.

The Dollar General Market is located along State Hwy 42, which averages 3,300 vehicles passing by daily. With extremely limited nearby competition, the subject property offers an immediate discount store option for highway travelers and locals alike. Furthermore, the site is in close proximity to Barnes Elementary School (400 students) and Gee Corbett Village Apartments (35 units), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by more than 5,000 residents and 500 employees. Residents within a 5-mile radius of the subject property have an average household income of $59,924.