518 Main St Tallassee, AL 36078
- Retail properties
- 10,500 SF
- 1.00 lot acres
Current Use by Public Records
- Family Dollar / Dollar Store / Clothing Store
Property Details for 518 Main St
- Year built
- 2024
- Lot size
- 1.00 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a newly constructed, 10,500-square-foot Family Dollar Tree located at 518 Main St, Tallassee, Alabama, 36078. Situated on a 1-3 acre lot, this Class A retail property boasts a concrete parking lot and brick facade. The property benefits from a prime location near Lake Martin and Auburn University, within the primary trade area of Tallassee. The tenant, Dollar Tree, Inc., holds a 10-year lease commencing February 15, 2024, and expiring March 1, 2034, with four or five-year renewal options including 8% rent bumps. This is a single-tenant, net lease (NN+) investment with minimal landlord responsibilities. The property offers a strong 7.65% cap rate and a substantial net operating income (NOI) of $131,775. The asking price is $1,722,549, translating to $164.05 per square foot. The property is offered fee simple and is suitable for a 1031 exchange. Dollar Tree, Inc. is investment grade rated with a Standard & Poor's rating of BBB and a Moody's rating of Baa2. This is a passive investment with significant upside potential due to the strong tenant, favorable lease terms, and prime location. The property is 100% occupied with an occupancy date of February 15, 2024.
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
- Tallassee
- County
- Tallapoosa
- State
- Alabama
- Longitude
- -85.8705
- Latitude
- 32.5481
