Goldsboro, 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 Goldsboro, 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 at the hard corner intersection of W. Holly St. and N. George St. which combined average 7,300 vehicles passing by daily. The asset is in close proximity to Berkeley Mall, a 458,000+ SF regional mall that is anchored by Hobby Lobby, Ashley, Burlington, Ulta, and many more. Furthermore, the site is nearby multiple national/credit tenants including Walmart Supercenter, Target, Food Lion, Sam’s Club, Sonic, Five Guys, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Additionally, the subject property is close to UNC Health Wayne (245 beds) and Goldsboro High School (470 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by over 45,000 residents and 36,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $73,583