7854 Highway 9 N Mill Spring, NC 28756

Listing agency Trinity Real Estate Investment Services c***@trinityreis.com Show Phone

Listed by Branson Blackburn · License #TX 611825

Source Crexi

Added: Apr 10 Updated: Jul 21 at 10:33PM Checked: Jul 22 at 10:32AM

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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

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FAQs

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