118 DRUG STORE Street, Cliffside, NC 28114
SINGLE_FAMILY - Cliffside, NC
- Added:
- May 27, 2025
- Days on Market:
- 406
- Last Refresh:
- Jul 6 at 4:06 pm
Property Features for 118 DRUG STORE Street
General Information
- Property type
- Residential
- Property subtype
- Retail
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Parking
- 41
- Parking features
- Parking Lot
- Security features
- Security System
- Standard status
- Active Under Contract
- APN
- 1646804
- Lot size
- 1.31 Acres
Taxes and HOA fees
- Tax Description
- DB1006 DP248
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2009
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Concrete
- Building materials
- Metal
- Roof type
- Metal
Listing agent Donald Peeler License #122980 (704) 913-1033
Listing office RE/MAX Select 500 W Warren Street, Shelby, NC (704) 487-7653
Listing date May 27, 2025
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully developed 1.31‑acre Dollar General store with year built 2009
- Corporate‑guaranteed NNN lease in place until 2055 with #5 5‑year options through 2055 and 10% increases per option
- Central air and heat pump heating; metal roof; metal construction; concrete flooring
- Public sewer and parking lot parking
- 2024 gross annual sales reported as $1,812,232
- Reported 2025–2030 annual lease payment of $87,372; lease payments increase in later periods through 2055
Overview
The offering is presented as a NNN investment with specified lease payment periods. The annual lease payment is listed as $87,372.00 for years 2025 through 2030, $90,680.40 for years 2030 through 2035, $99,748.44 for years 2035 through 2040, $109,723.32 for years 2040 through 2045, $120,695.64 for years 2045 through 2050, and $132,765.24 for years 2050 through 2055. The listing also states gross annual sales for 2024 were $1,812,232.00.
For buyers seeking a stabilized, long-dated retail net lease, this asset provides a single-tenant Dollar General structure with corporate-guaranteed NNN terms extending to 2055. The listing specifies that at a $1,199,000 purchase price the deal would create a 7.28% cap rate, and it notes total NNN lease payments of $3,081,148.00 over the referenced period.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.1k | $17.04 |
| − Vacancy | −$10.9k | −$1.23 |
| EGI | $140.2k | $15.81 |
| − OpEx | −$35.0k | −$3.95 |
| NOI | $105.1k | $11.86 |
Alternative Uses
Current Use by Public Records
Map
- City
- Cliffside
- County
- Rutherford
- State
- North Carolina
- Longitude
- -81.767578
- Latitude
- 35.242045
