Current Use by Public Records
- Retail properties & Spaces
Property Details for 18231 Nc-109
- Year built
- 2024
- Lot size
- 1.95 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 12,480-square-foot Dollar General Market in Denton, NC, situated on a 1.95-acre lot. The property boasts a new construction, completed in 2024, featuring Dollar General's "next-gen" design, incorporating fresh produce, meats, and other groceries alongside their standard merchandise. This is a single-tenant, absolute NNN lease with a corporate guarantee from Dollar General, a Fortune 500 company with an S&P investment-grade credit rating. The lease commenced June 30, 2024, and has a remaining term of approximately 14.6 years, extending to June 30, 2039, with five, 5-year options. Rent increases by 5% every five years throughout the initial term and options, ensuring consistent income growth. The asking price is $2,536,000, representing a price per square foot of $203.21 and a 6.60% cap rate based on a net operating income (NOI) of $167,328. The property is located in the Winston-Salem MSA, the second-largest city in the Piedmont Triad region of North Carolina, a thriving area with strong economic fundamentals and a diverse population. This location benefits from proximity to major transportation routes, numerous businesses, and educational institutions, including Wake Forest University. The tenant is fully responsible for all operating expenses, including taxes, insurance, common area maintenance (CAM), roof, and building structure. This is a strong, low-risk investment with a highly reputable tenant and a long-term lease.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denton
- County
- Davidson
- State
- North Carolina
- Longitude
- -80.1087
- Latitude
- 35.6265
