619 Corsicana St Athens, TX 75751
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High-yield Dollar General investment. Strong tenant, long lease.
Property size:
12,480 SFProperty Features for 619 Corsicana St
General Information
- Property type
- Retail space
- Square Feet
- 12,480 SF
- Lot Size
- 53,143 SF
Listing Agency: Colliers Listing Agent: Eric Carlton
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Dollar General
Discount Store
Western Union
Bank
Redbox
Cinema
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?
Retail space - High-yield Dollar General investment. Strong tenant, long lease.
Where is this retail space 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.
