3311 Ridge Rd Macon, GA 31217
- Retail properties
- 10,542 SF
- 3.50 lot acres
Current Use by Public Records
- Dollar General / Convenience Store / Discount Store
Property Details for 3311 Ridge Rd
- Year built
- 2023
- Lot size
- 3.50 lot acres
- Property size
- 10,542 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,542 square foot Dollar General Plus store in Macon, Georgia. Built in 2023, this premium-constructed building (not a typical three-sided metal structure) is situated on a 3.5-acre lot at 3311 Ridge Rd, 31217. The property boasts a 14-year remaining lease term (initial 15-year lease commencing August 1, 2023, and expiring July 31, 2038) with five, 5-year renewal options, each including a 10% rent increase. The absolute NNN lease structure eliminates management responsibilities, and the tenant, Dollar General Corporation, provides a corporate guarantee. The property enjoys a 6.75% cap rate and a strong net operating income (NOI) of $127,800. The location benefits from a robust 5-mile population of approximately 31,307 residents, with an average household income of $71,624, aligning with Dollar General's target demographic. Dollar General's investment-grade credit rating (BBB, S&P) and its status as an essential retailer further enhance the investment's security and potential for long-term growth. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with a blue-chip tenant in a desirable location. The property's size, lease terms, and tenant strength make it an attractive addition to any portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Macon
- County
- Twiggs
- State
- Georgia
- Longitude
- -83.4855
- Latitude
- 32.8515
