Single Tenant Net Leased Dollar General Property in Kannapolis, NC

Description:

SULLIVAN WICKLEY is pleased to exclusively market for sale a single tenant net leased Dollar General property located in Kannapolis, NC. The city of Kannapolis sits approximately 25 miles north of Charlotte. Kannapolis is a growing suburb of north Charlotte with close proximity to Interstate 85, Lake Norman, and surrounding large employers of the state. There are approx. 17k cars per day along Highway 29 with dual access points from the corner location at Coldwater Street and Highway

The 9,100 square foot freestanding Dollar General has a proven history of success in the market and is a RELOCATION STORE concept, increasing the likelihood of renewal. This Dollar General was originally built in 2019 and has approx. 12.5 years remaining. The lease features 10% rental escalations in each of the five (5) / 5-year renewal option periods. This is a true NNN lease structure with no landlord responsibilities. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB and a Moody’s rating of Baa2.

NEWER 2019 CONSTRUCTION
• Build to Suit Construction
• Corner Location with Dual Entrances
• Freestanding Dollar General Store
• RELOCATION CONCEPT

PRIME LOCATION HIGH GROWTH CORRIDOR
• Main Thoroughfare with excellent visibility and easy access
• 14,000+ Vehicles Per Day
• 30 min North of Charlotte
• Relocation store and Corner Location

DOLLAR GENERAL CORPORATE LEASE
• This is a true NNN lease structure
• 10% Increases in each of the Options
• Five (5) – Five (5) Year Option Periods with 10% Rental Increases

E-COMMERCE RESISTANT TENANT
• Financially Strong Tenant with Long Term Lease
• Dollar General (NYSE: DG) Features Investment Grade Credit (S&P: BBB)
• Ranked #91 on the Fortune 500 List

OFFERED FREE AND CLEAR
• Dollar General is being offered free and clear of existing debt

EXCELLENT DEMOGRAPHICS
• Average Household Income exceeds $67,500 within 1 mile
• Over 25,000 residents within 3 mile radius

CLOSE PROXIMITY TO CHARLOTTE
• The site is located within 26 miles of downtown Charlotte
• Market is experiencing tremendous growth as residents spread northward from Charlotte
• Rare Relocation store with proven sales history, creating a strong likelihood of renewal
• Close Proximity to Kannapolis Lake

Documents: