Current Use by Public Records
- Retail properties & Spaces
Property Details for 6513 Tn-28
- Year built
- 2004
- Lot size
- 1.34 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a Dollar General store in Dunlap, Tennessee. The 9,174 square foot building, constructed in 2004, sits on a 1.34-acre lot at 6513 TN-28, 37327. The property boasts a strong 8.35% cap rate, generating a net operating income (NOI) of $44,220. The current lease, a triple-net (NNN) agreement with a credit-rated, corporate-guaranteed tenant, commenced May 1, 2004, and expires April 30, 2029, with 4.5 years remaining. Three five-year lease options exist, each including a 10% rent increase. Dollar General, a highly reputable and essential retailer with a significant market cap, has demonstrated exceptional performance and stability. The property's location is advantageous, situated directly off Highway 28 and within close proximity to other national retailers and schools, serving a community with an average household income of $72,506. This presents a compelling investment opportunity with a low price point of $529,581, offering both strong current income and significant future potential. The property is 100% occupied.
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
- Dunlap
- County
- Sequatchie
- State
- Tennessee
- Longitude
- -85.4076
- Latitude
- 35.3462
