619 Corsicana St Athens, TX 75751
- Commercial real estate
- 12,560 SF
- 1.12 lot acres
Current Use by Public Records
- Dollar General / Dollar Store / Convenience Store
- Western Union / Money Transfer Service
- Redbox / Movie Rental Kiosk / Dvd Store
Property Details for 619 Corsicana St
- Year built
- 2012
- Lot size
- 1.12 lot acres
- Property size
- 12,560 SF
- Property type
- Commercial real estate
- APN
- 2050-0084-0010-01
- APU
- 20500084001001
Description
This exceptional investment opportunity presents a 12,480-square-foot Dollar General convenience store and storefront located at 619 W Corsicana St, Athens, TX 75751. The property sits on a 1.22-acre lot and is offered at $2,020,000, representing a price per square foot of $161.86 and a 6.50% cap rate. The property boasts a Net Lease (NNN) structure with a single tenant, Dollar General, under a corporate guaranteed lease. The current lease commenced April 1, 2013, and expires March 31, 2028, leaving approximately 3.4 years remaining. The lease includes 3-5 year option periods with a 10% rent increase at each renewal. The property generates a Net Operating Income (NOI) of $131,350, reflecting 100% occupancy. Dollar General, rated "BBB" by Standard & Poor's, operates over 20,000 stores nationwide, demonstrating financial strength and stability. This presents a low-management, high-return investment in a tax-free state, ideal for 1031 exchange purposes. The property benefits from a diversified economic base in Athens, Texas, encompassing tourism, finance, retail, services, and healthcare. This is a rare opportunity to acquire a high-quality, single-tenant NNN investment with a strong tenant and significant remaining lease term.
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
- Athens
- County
- Henderson
- State
- Texas
- Longitude
- -95.8674
- Latitude
- 32.2039
- CBSA code
- 11980
- CBSA name
- ATHENS, TX MICROPOLITAN STATISTICAL AREA
