2046 Salisbury HwyStatesville, NC 28677

For Sale
$1,269,585

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple ownership of a 9,100-square-foot Dollar General store located at 2046 Salisbury Hwy, Statesville, NC 28677. The property sits on a 2.52-acre lot and boasts a 7.25% cap rate, generating a net operating income (NOI) of $92,045. Built in 2016, this single-tenant building benefits from a 15.1-year absolute NNN lease with a credit-rated corporate guarantor, ensuring minimal landlord responsibilities. The current lease, commenced May 8, 2016, has a remaining term of 6.5 years, expiring May 30, 2031, and includes five, 5-year lease options with a 10% rent increase each time. The asking price is $1,269,585, translating to $139.51 per square foot and $1,269,585 per unit. The property enjoys excellent visibility along Salisbury Hwy, a high-traffic area with over 17,900 vehicles passing daily. Its strategic location near other retailers, apartments, and schools further enhances its appeal and potential for sustained profitability. The strong demographics of the area, with over 42,000 residents and a positive growth rate, contribute to the property's long-term value. This is a rare opportunity to acquire a well-performing, low-maintenance investment with a secure, long-term lease and a strong tenant.

Highlights

  • 15-Year Dollar General Lease with 6+ Years Remaining.
  • Absolute NNN Lease; Zero Landlord Responsibilities.
  • Strong 5-Mile Demographics: 42,000+ Residents, Positive Growth.
  • High Visibility on Salisbury Hwy (17,900+ VPD).
  • Excellent Location near Retailers, Apartments, and Schools.
  • Strong Corporate Guarantee from Dollar General (S&P BBB Rating).

Property Details for 2046 Salisbury Hwy

Property type
Other specialty properties, Other retail properties
Square Feet
9,100 SF
Year Built
2016
Buildings
1
Lot Size (sq. ft)
109,771 SF
Units
1

Location Insight

City
Statesville
County
Iredell
State
North Carolina
Latitude
35.7604957
Longitude
-80.8337118
2046 Salisbury Hwy, Statesville, North Carolina

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2046 Salisbury Hwy
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