606 Van Streat Hwy Nicholls, GA 31554
- Retail properties
- 10,640 SF
- 1.65 lot acres
Current Use by Public Records
- Retail properties
Property Details for 606 Van Streat Hwy
- Year built
- 2023
- Lot size
- 1.65 lot acres
- Property size
- 10,640 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents the fee-simple ownership of a brand-new Dollar General Plus store in Nicholls, Georgia. Located at 606 Van Streat Hwy, this 10,640 square foot building sits on a 1.65-acre corner lot, boasting high visibility with over 5,685 vehicles passing daily. Constructed in 2023 with upgraded brick and Hardie plank exterior, the property surpasses the standard Dollar General design. The property benefits from a 15-year NNN lease with Dollar General Corporation, a leading discount retailer with an investment-grade credit rating (BBB/Stable by S&P). The lease commenced November 2023 and includes five, five-year renewal options with 10% rent increases at each option. This represents a secure, passive income stream, projected to generate a 6.75% cap rate and $117,228 in net operating income (NOI). The asking price is $1,737,000, translating to $163.25 per square foot. This represents a relocation and expansion for Dollar General, reflecting the growing market demand. The long-term lease and strong tenant provide exceptional security and return for investors seeking a low-maintenance, high-return investment. The property offers a compelling combination of passive income, strong tenant credit, and significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Nicholls
- County
- Coffee
- State
- Georgia
- Longitude
- -82.6394
- Latitude
- 31.5172
