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    619 Corsicana St Athens, TX 75751

    For Sale
    $2,020,000

    High-yield Dollar General investment. Strong tenant, long lease.

    Property size:
    12,480 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a 12,480-square-foot Dollar General convenience store and storefront located at 619 W Corsicana St, Athens, TX 75751. The property sits on a 1.22-acre lot and is offered at $2,020,000, representing a price per square foot of $161.86 and a 6.50% cap rate. The property boasts a Net Lease (NNN) structure with a single tenant, Dollar General, under a corporate guaranteed lease. The current lease commenced April 1, 2013, and expires March 31, 2028, leaving approximately 3.4 years remaining. The lease includes 3-5 year option periods with a 10% rent increase at each renewal. The property generates a Net Operating Income (NOI) of $131,350, reflecting 100% occupancy. Dollar General, rated "BBB" by Standard & Poor's, operates over 20,000 stores nationwide, demonstrating financial strength and stability. This presents a low-management, high-return investment in a tax-free state, ideal for 1031 exchange purposes. The property benefits from a diversified economic base in Athens, Texas, encompassing tourism, finance, retail, services, and healthcare. This is a rare opportunity to acquire a high-quality, single-tenant NNN investment with a strong tenant and significant remaining lease term.

    Property Features for 619 Corsicana St

    General Information

    Property type
    Individual retail properties
    Square Feet
    12,480 SF
    Lot Size
    53,143 SF

    HighLights

    • $2,020,000 asking price for a 12,480 SF Dollar General convenience store/storefront.
    • Net lease, NNN, single‑tenant property with a corporate guarantee from Dollar General (NYSE: DG).
    • 15‑year lease with approximately 3.4 years remaining; 3‑5 year option periods with 10% rent increases each.
    • 6.50% cap rate, $131,350 NOI, $161.86/SF price.
    • 100% occupancy; located on a 1.22‑acre lot in Athens, TX (75751).
    • S&P investment grade rating of BBB for Dollar General.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Western Union Money Transfer Service Redbox Movie Rental Kiosk

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Henderson
    State
    Texas
    Longitude
    -95.8673429
    Latitude
    32.203696

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Dollar General investment. Strong tenant, long lease.
    Where is this individual retail property located?
    The property is located at 619 Corsicana St Athens, TX.
    What is the asking price?
    The asking price for this property is $2,020,000.
    What are key features of this property?
    This property features: $2,020,000 asking price for a 12,480 SF Dollar General convenience store/storefront.; Net lease, NNN, single-tenant property with a corporate guarantee from Dollar General (NYSE: DG).; 15-year lease with approximately 3.4 years remaining; 3-5 year option periods with 10% rent increases each.
    Request Owner's contact information
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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
    619 Corsicana St Athens, TX 75751
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