Retail•Free Standing Building•For Sale
1048 Lakeview Dr, Grenada, Mississippi 38901
Cash to Seller
Speed Commercial Real Estate is pleased to present this 9,104 SF Dollar General Relocation store located in Grenada, MS. The property is encumbered with a new seven (7) NNN Lease extension ending September 30, 2028, leaving zero landlord responsibilities. The lease contains Four (5) Yr. Options to renew, each with a 10% rental rate increase. The store has been in this location since 2005. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. Rent commenced in June of 2019, and expires in September of 2028.
This Dollar General is highly visible and strategically positioned on Lakeview Drive, also which sees 12,000 cars per day. The five mile population from the site exceeds 15,300 while the one mile average household income exceeds $44,000 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 7.89% cap rate based on NOI of $55,200.
• NNN Lease | Zero Responsibilities
• Proven Success in Market
• 7 Year Term | Four (5 Yr.) Options | 10% bumps
• Five Mile Population exceeds 15,300
• One Mile Average Household Income Exceeds $44,000
• Lakeview Drive sees 12,000 Cars Per Day
• Investment Grade Dollar Store | “BBB” | Corporate Guarantee
• Dollar General Reported 29 Consecutive Quarter of Same Store Sales Growth
6/5/2019 3:04:33 PM
9/4/2019 2:45:22 PM