304 Crk St Rocky Top, TN 37769

Property Details for 304 Crk St

Property size

15,292 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a 15,292 square foot Dollar General Market in Rocky Top, Tennessee, boasting a strong 7.80% cap rate. The property features a 10-year net lease with nine years remaining, offering significant long-term stability. Rent increases of 10% are built into the lease at each option period. The store underwent a complete interior and exterior renovation in 2023, including a new roof, HVAC system, and parking lot. This upgraded market features an expanded produce and grocery section. Dollar General, rated BBB by S&P, is a nationally recognized essential retailer with over 19,000 stores. Located at 304 Creek St, Rocky Top, TN 37769, this single-tenant property enjoys a prime location just off I-75, experiencing high daily traffic volume (43,025 cars/day). The building is constructed of rare brick on three sides with a block storefront. The property serves a growing population of over 77,000 residents in a Knoxville suburb, only 23 miles northwest of downtown Knoxville and benefits from the area's robust tourism industry. The nearest competing Dollar General Market is over 18 miles away, ensuring a strong market position. Tennessee's tax-free status further enhances the investment's appeal. This is a rare opportunity to acquire a high-performing, well-located net lease property with a nationally recognized tenant and significant upside potential. The NOI is $123,936, and the asking price is $1,589,000 ($103.91/sq ft).