407 Us-377 Collinsville, TX 76233
- Retail properties
- 9,016 SF
- 0.83 lot acres
Current Use by Public Records
- Retail properties
Property Details for 407 Us-377
- Year built
- 2006
- Lot size
- 0.83 lot acres
- Property size
- 9,016 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a single-tenant, 9,016 square foot Dollar General store located at 407 US-377, Collinsville, TX 76233, within the Dallas MSA. The property boasts a strong 5.78% cap rate and a substantial NOI of $61,020, supported by a corporate guarantee from Dollar General (NYSE: DG). The lease, originally commencing April 1, 2006, has a remaining term of approximately 2.8 years, with options for three or five-year extensions. Built in 2006 on a 0.83-acre lot, this single-story building enjoys 100% occupancy and benefits from rent bumps that vary according to a detailed rent schedule. The property's location near high-traffic US-377 ensures consistent customer flow, while the thriving Dallas-Fort Worth MSA provides a robust economic backdrop. The property's strong financial performance, coupled with the tenant's long-standing presence and commitment to the location (demonstrated by lease extensions), makes this a compelling investment opportunity with significant potential for long-term growth and return. The property is classified as a convenience store, grocery store, and storefront, offering a versatile retail space. The lease is a Double Net (NN) lease, limiting landlord responsibilities to property taxes and building maintenance. The asking price is $1,055,000, translating to $117.01 per square foot.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Collinsville
- County
- Grayson
- State
- Texas
- Longitude
- -96.9121
- Latitude
- 33.5644
