Listing Agency: Trinity Real Estate Investment Services

Listed By: Branson Blackburn · License #TX 611825 Show Phone

Source: Crexi

Added: Apr 10 Changed: Sep 5 Last Checked: Sep 6 at 11:29PM

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Investment Insights

Based on property information with market context.

This offering presents a single-tenant, NN leased, corporately guaranteed Dollar General property. The current lease term was extended in 2014 after seven years of operation at the location, leaving over 4.25 years remaining on the current term. The lease also includes three (3) periods of five (5) year options, with the first option featuring a 15% rent increase followed by 10% increases in the next two options. Dollar General is responsible for HVAC repairs costing less than $1,000, and the tenant pays $400 per month for CAM reimbursements, with CAM increasing by $50 each option period.

The property is located at 7854 Highway 9 N in Mill Spring, NC. The remarks note seasonal tourism dynamics in the Mill Spring/Lake Lure area, including an estimated ten-fold increase in population during tourism season and nearby outdoor attractions.

From a lease and operating expense perspective, this is a single-tenant NNN structure with defined rent escalations through the option periods and tenant responsibility for specified HVAC repair costs and CAM reimbursements.

Key Highlights

• Single‑tenant, NN (net) leased Dollar General with corporately guaranteed tenant
• Lease extended in 2014; more than 4.25 years remaining on current term
• Three (3) five‑year options: first option includes a 15% rent increase, followed by 10% increases in next two options

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply Storage Facility Furniture & Home Goods Real Estate Agency Cafe & Coffee Shop Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

4k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,022 visits/mo 0.1 miles

Demographics for 28756, NC

4,156

Population

2,375

Households

1.7

Avg Household Size

49

Median Age

19%

College-Educated

87%

High-School Grad

79.3 sq mi

ZIP Area

52

Density / Sq Mi

$54,112

Median Household Income

$36,375

Median Earnings

$662

Median Rent

$275,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - NNN leased Dollar General with a corporately guaranteed tenant and remaining term of more than four and a quarter years.

Where is this grocery and convenience store located?

The property is located at 7854 Highway 9 N Mill Spring, NC.

What are key features of this property?

This property features: Single‑tenant, NN (net) leased Dollar General with corporately guaranteed tenant; Lease extended in 2014; more than 4.25 years remaining on current term; Three (3) five‑year options: first option includes a 15% rent increase, followed by 10% increases in next two options