Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 224 Main St
- Year built
- 2024
- Lot size
- 1.16 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 10,500-square-foot Family Dollar and Dollar Tree combo store in Lobelville, Tennessee. Located at 224 N Main St, this property boasts a prime location on a major thoroughfare connecting to I-40, less than 10 miles away. The 1.16-acre lot houses a newly constructed building (2024) operating under a triple-net (NNN) lease with a remaining term of 9.3 years (commencing February 7, 2024, and expiring February 28, 2034). The lease includes four 5-year options with $0.50 per square foot rent increases at each option. Landlord responsibilities are limited to roof and structure maintenance. The property enjoys 100% occupancy and generates a strong net operating income (NOI) of $120,750, resulting in a compelling 7.50% capitalization rate. The asking price is $1,610,000 ($153.33 per square foot). This investment benefits from the proven success of the Family Dollar/Dollar Tree combo store model in tertiary markets, limited direct competition (Dollar General and Piggly Wiggly Xpress are the only other discount stores nearby), and favorable demographics, with an average household income within a 5-mile radius exceeding $83,223. This presents a rare chance to acquire a high-performing retail asset with significant long-term potential in a stable market.
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
- Lobelville
- County
- Perry
- State
- Tennessee
- Longitude
- -87.7819
- Latitude
- 35.775
