Williamston, NC - Dollar General

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 investment property located in Williamston, 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’s 20,149 Dollar General, DG Market, DGX and Popshelf stores across the United States.

The Dollar General is located at the signalized, hard corner intersection of West Main St. and State Hwy 125 with a combined (13,500 VPD). The site is located in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Food Lion, AutoZone, O’Reilly Auto Parts, Taco Bell, McDonald’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is in close proximity to multiple schools including Riverside High School (447 students), Martin Community College (944 students), and Williamston Primary School (368 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by more than 10,000 residents and 4,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $64,330.