Current Use by Public Records
- Retail properties & Spaces
Property Details for 2700 Us Hwy
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 9,100-square-foot Dollar General convenience store located at 2700 US Highway 64, Selmer, Tennessee, 38375. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $79,868. Secured by a corporate guarantee, the NNN lease features zero landlord responsibilities, providing a passive income stream for investors. The lease commenced June 12, 2019, and has a remaining term of 9.6 years, extending to June 30, 2034, with five 5-year renewal options, each including a 10% rent increase. The property is situated on a single-story building within a commercially zoned area. The asking price is $1,228,739, translating to a price per square foot of $135.03. This single-tenant, 100% occupied property presents an ideal investment opportunity, particularly attractive for 1031 exchange purposes. The location in Tennessee, a state with no income tax, further enhances its appeal. The property's strong tenant, long lease term, and favorable financial metrics make it a compelling addition to any investment portfolio.
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
- Selmer
- County
- McNairy
- State
- Tennessee
- Longitude
- -88.5378
- Latitude
- 35.1772
