Current Use by Public Records
- Retail properties & Spaces
Property Details for 736 Tn Hwy
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity features a 7,670-square-foot Dollar General convenience store in Cumberland City, Tennessee. Located at 736 TN Highway 149, this single-story building sits on commercially zoned land and boasts a strong 6.50% cap rate, generating a net operating income (NOI) of $72,708. The property is under a Net Lease (NNN) agreement with a corporate guarantee, minimizing landlord responsibilities. The current lease, with Dollar General as the tenant, commenced March 10, 2019, and has a remaining term of 9.4 years, expiring March 31, 2034. Five (5) year lease options are included, each with a 10% rent increase. The asking price is $1,118,584, translating to a price per square foot of $145.84. This property presents an ideal investment opportunity, particularly for 1031 exchange purposes, given its location in Tennessee, a state with no income tax. The 100% occupancy rate further enhances its appeal. The property's strong tenant, long lease term, and favorable financial metrics make it a compelling investment prospect. This is a single-tenant, single-building property.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cumberland City
- County
- Stewart
- State
- Tennessee
- Longitude
- -87.6016
- Latitude
- 36.3996
