250 Taft Dr Spencer, TN 38585
- Retail space
- 10,662 SF
- 1.25 lot acres
Current Use by Public Records
- Family Dollar / Clothing Store / Discount Store
Property Details for 250 Taft Dr
- Year built
- 2023
- Construction
- FRAME
- Lot size
- 1.25 lot acres
- Property size
- 10,662 SF
- Property type
- Retail space
- APN
- 088030B B 00100
- APU
- 088030BB00100
Description
This exceptional investment opportunity presents a brand-new, 10,500 square foot retail storefront in Spencer, Tennessee, occupied by a Dollar Tree and Family Dollar combo store. The property boasts a fee simple ownership structure with a new 10-year net lease, commencing April 17, 2023, and featuring a corporate guarantee for added security. The lease includes scheduled rent bumps of $0.50 per square foot annually at the beginning of each five-year option period, providing consistent income growth. The property's strong financial performance is reflected in a 7.30% cap rate and a net operating income (NOI) of $123,375. Located on 1.25 acres at 250 Taft Dr, Spencer, TN 38585, this strategically positioned property benefits from high visibility along State Highway 111, experiencing 5,500 vehicles per day. The ample parking (2.57 spaces per 1,000 sq ft) caters to customer convenience. The building, constructed in 2023, is zoned C-2 and features a single unit. The property's location near Van Buren County High School contributes to a strong local demographic. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term lease and significant upside potential. The asking price is $1,690,000, translating to $160.95 per square foot. Five (5-year) lease options further enhance the long-term value and security of this investment. The property's APN is 088030B B 00100.
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
- Spencer
- County
- Van Buren
- State
- Tennessee
- Longitude
- -85.4579
- Latitude
- 35.7501
