Rose Hill, 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 Rose Hill, 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 subject property is located near the signalized, hard corner intersection of W. Charity Rd. and S. Sycamore St. that average a combined 13,400 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to Interstate 40, a major thoroughfare averaging over 16,000 VPD. The asset is located in a dense retail corridor, with numerous nearby national/credit tenants including Speedway, Truist, UHaul, First Bank, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 6,000 residents and 5,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $66,643.