304 Mutual Blvd Princeville, NC 27886-5230
- Commercial real estate
- 9,060 SF
- 1.33 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 304 Mutual Blvd
- Year built
- 2010
- Lot size
- 1.33 lot acres
- Property size
- 9,060 SF
- Property type
- Commercial real estate
- APN
- 473861099900
- APU
- 473861099900
Description
This exceptional investment opportunity presents a fee-simple, 9,014 square-foot Dollar General located at 304 Mutual Blvd, Princeville, NC 27886. Built in 2010 on a 1.33-acre lot, the property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $75,853. The property is currently operating under a 20-year net lease (NN+) with a corporate guarantee from Dollar General, a publicly traded company. The lease commenced on May 20, 2010, and has a remaining term of 5.5 years, with five, five-year renewal options, each including a 10% rent increase. The asking price is $948,163, translating to a price per square foot of $105.19. The property enjoys 100% occupancy and benefits from a low rent and price point, minimizing landlord responsibilities. The location is advantageous, with nearby tenants including Walmart, Lowe's, Starbucks, and Tractor Supply. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and significant remaining lease term. The property is situated in Edgecombe County, North Carolina.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Princeville
- County
- Edgecombe
- State
- North Carolina
- Longitude
- -77.5276
- Latitude
- 35.8897
- CBSA code
- 40580
- CBSA name
- ROCKY MOUNT, NC METROPOLITAN STATISTICAL AREA
