22679 Al-75 Sylvania, AL 35988
- Retail properties
- 9,014 SF
- 1.03 lot acres
Current Use by Public Records
- Retail properties
Property Details for 22679 Al-75
- Year built
- 2009
- Lot size
- 1.03 lot acres
- Property size
- 9,014 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple interest in a Dollar General storefront located at 22679 AL-75, Sylvania, AL 35988. The property, built in 2009, encompasses 9,014 square feet on a 1.03-acre lot. Dollar General, an investment-grade tenant (S&P: BBB), recently exercised a five-year lease renewal option, extending the lease through August 31, 2029. This demonstrates a strong commitment to the location and provides over five years of remaining lease term. The current lease features a low net rent of $9.89 per square foot, ensuring long-term affordability and sustainable income. Four additional five-year renewal options are available, each with a 10% rent increase. The property boasts a 7.75% cap rate and a current NOI of $89,136, with an asking price of $1,150,242. The property benefits from a lack of competing dollar stores within a six-mile radius. This single-tenant, net lease property offers a secure and profitable investment with significant upside potential. The property is situated in DeKalb County, Alabama, and enjoys 100% occupancy since its opening in August 2009. The lease commenced August 9th, 2009, and the current lease term is 20.1 years. The property is a single-story building.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sylvania
- County
- DeKalb
- State
- Alabama
- Longitude
- -85.7984
- Latitude
- 34.5631
