160 Briggs Rd Salisbury, NC 28147

Property Details for 160 Briggs Rd

Lot size

2.00 lot acres

Property size

10,542 SF

Property type

Grocery and convenience stores

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Dollar General property in Salisbury, North Carolina. Built in 2023, this 10,542 square foot building sits on a 2-acre lot and boasts premium construction (no metal siding). The property benefits from a 14-year remaining lease term (initial 15-year lease commencing July 7, 2023, expiring July 31, 2038) with five, 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $116,160, representing a 6.75% cap rate on the $1,720,888 asking price. The tenant, Dollar General Corporation, holds an investment-grade credit rating and provides a corporate guarantee. This is a single-tenant, 100% occupied property located in a strong demographic area with an average household income of $86,003 and a 5-mile population of approximately 27,471 residents. The property's location in Salisbury, approximately 40 miles northeast of Charlotte, ensures excellent visibility and accessibility. This is a low-management, high-return investment with significant long-term potential. The Dollar General PLUS concept store size suggests above-average sales volume projections for this location.