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    455 Pirates Rd New Bern, NC 28562

    Sponsored
    For Sale
    $950,000

    High-yield NC convenience store, strong tenant.

    Property size:
    9,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 9,014-square-foot Dollar General convenience store located at 455 Pirates Rd, New Bern, NC 28562. The property boasts a strong 7.73% cap rate and a substantial net operating income (NOI) of $73,416. The single-tenant building, constructed in 2007, sits on a 1.15-acre lot and is zoned C. The lease is a Net Lease (NN) structure, minimizing landlord responsibilities, and features a corporate guarantee from Dollar General, Inc., providing significant security. The current lease, commencing August 1, 2007, has a remaining term of approximately 2.7 years, with four (5-year) lease options, each including a 10% rent increase. The property benefits from its strategic location near US Highway 17 S, a high-traffic area with over 18,750 vehicles per day. The surrounding area demonstrates strong demographics, with an average household income exceeding $78,000 within a 3-mile radius. This presents a compelling investment opportunity for those seeking a stable, high-yielding asset with a nationally recognized, financially sound tenant. The property's 100% occupancy and proven profitability make it an attractive option for 1031 exchange buyers.

    Property Features for 455 Pirates Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,014 SF
    Lot Size
    50,094 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Corporate Guarantee from Dollar General, Inc.
    • High‑traffic location near US Highway 17 S (over 18,750 vehicles/day).
    • Net Lease (NN) with minimal landlord responsibilities.
    • Strong demographics: Average household income over $78,000 within a 3‑mile radius.
    • Recession‑resistant tenant: Dollar General (NYSE: DG), Fortune 500 company.
    Property Profile Location Intelligence

    Current Use by Public Records

    FedEx OnSite Mailing Service Dollar General Dollar Store Western Union Money Transfer Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.1476389
    Latitude
    35.0846313

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NC convenience store, strong tenant.
    Where is this individual retail property located?
    The property is located at 455 Pirates Rd New Bern, NC.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Corporate Guarantee from Dollar General, Inc.; High-traffic location near US Highway 17 S (over 18,750 vehicles/day).; Net Lease (NN) with minimal landlord responsibilities.
    Request Owner's contact information
    455 Pirates Rd New Bern, NC 28562
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    New Bern, NC 28562
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    455 Pirates Rd New Bern, NC 28562
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