323 Honeysuckle Dr Albany, GA 31705-9544

Property Details for 323 Honeysuckle Dr

Lot size

2.62 lot acres

Property type

Industrial land

APN

00182/00001/08A

APU

001820000108A

Description

This exceptional investment opportunity presents a brand-new, 12,480-square-foot Dollar General Market in Albany, Georgia. Located at 323 Honeysuckle Dr, Albany, GA 31705, this single-tenant property boasts a 15-year absolute NNN lease commencing October 14, 2024, and expiring October 31, 2039, with a remaining term of 15 years. The lease includes five 5-year renewal options, each with a 5% rent increase. The tenant, Dollar General Corporation, holds an investment-grade credit rating, providing strong financial security. The property features 67 parking spaces and sits on a 2.62-acre lot in a high-traffic area, with 16,624 cars passing daily. The building, constructed in 2024, offers a sizable footprint and is strategically positioned for optimal visibility. With a 100% occupancy rate and a net operating income (NOI) of $161,004, the property offers a compelling 6.50% cap rate at an asking price of $2,476,985 ($198.48/sq ft). The average household income within one mile is $67,391, and the five-mile population is 32,650, indicating a strong market for this type of retail establishment. This is an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-return investment in a proven retail concept. The property is zoned commercial.