Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, newly constructed, Dollar General investment property located in Edenton, 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 10% rental increases 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 Dollar General is strategically located along Ocean Highway S, a major commuter highway that sees over 13,000 vehicles per day. The property is positioned on the hard corner intersection of Ocean Highway S and State Highway 37 (17,000 VPD). The asset benefits from excellent visibility and access via significant street and a large pylon sign, providing ease and convenience for customers. The newly constructed store features state-of-the-art materials, high-level finishes, and distinct Dollar General design elements. This location is Dollar General’s newest prototype. The asset benefits from limited competition as there is only two other discount stores serving the immediate trade area. Dollar General Stores is an American chain of variety stores that has become one of the most profitable stores in the rural United States with revenue reaching
$34.22 billion. The company has opened 1,050 new stores across the U.S. in 2023, expanding its presence to 47 states throughout the country. The trade area is supported by over 4,560 residents and 3,610 daytime employees with household incomes of $67,571.

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