507 Sycamore St Rose Hill, NC 28458
- Retail space
- 12,562 SF
- 2.60 lot acres
Current Use by Public Records
- Retail space
Property Details for 507 Sycamore St
- Year built
- 2024
- Lot size
- 2.60 lot acres
- Property size
- 12,562 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
Description
This exceptional investment opportunity presents a fee-simple interest (land & building) in a 12,562 square foot Dollar General store located at 507 S Sycamore St, Rose Hill, NC 28458. The property boasts a brand new 15-year absolute NNN lease commencing May 1, 2024, and expiring April 30, 2039, with five 5-year renewal options. The lease includes a 5% rental increase every five years, ensuring consistent NOI growth and inflation protection. With zero landlord responsibilities, this is an ideal passive investment. The building, constructed in 2024, sits on a 2.6-acre lot and offers 51 parking spaces. The property benefits from a high-traffic location near the intersection of W. Charity Rd. and S. Sycamore St. (13,400 VPD) and convenient access to Interstate 40 (16,000 VPD). The strong demographics of the 5-mile trade area, including over 6,000 residents and 5,000 employees with an average household income of $66,643, further enhance the investment's appeal. The asking price is $2,086,000, representing a 6.65% cap rate and a price per square foot of $166.06. The property is zoned for general commercial use and enjoys 100% occupancy, generating a net operating income (NOI) of $138,708. The property's location within a dense retail corridor, alongside national tenants like Speedway, Truist, UHaul, and First Bank, ensures strong tenant synergy and increased consumer traffic. This is a turnkey investment opportunity with significant long-term growth potential.
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
- Rose Hill
- County
- Duplin
- State
- North Carolina
- Longitude
- -78.02005
- Latitude
- 34.82126
