640 Memorial Dr Dallas, GA 30132-4123

Property Details for 640 Memorial Dr

Year built

2005

Lot size

0.98 lot acres

Property size

9,016 SF

Zone code

DC2

Property type

Outlet malls

APN

136.2.2.042.0000

APU

136220420000

Description

This exceptional investment opportunity presents a single-tenant, 9,000 square foot Dollar General convenience store located at 640 W Memorial Dr, Dallas, GA 30132. The property boasts a strong financial profile, with a 7.50% cap rate and a net operating income (NOI) of $64,578. The current lease, a Net Lease (NN+) with a corporate guarantee, expires March 31, 2027, offering a remaining term of 2.4 years. Two 5-year renewal options remain, demonstrating the tenant's long-term commitment to this location. The property sits on a 0.98-acre lot and was built in 2004. Recent improvements include LED outdoor lighting upgrades (completed October 2024, tenant-funded), parking lot repaving, and the replacement of three out of five HVAC units in 2024. A full building inspection was conducted in July 2024. The property benefits from a strong demographic profile, situated within a 5-mile radius boasting a population exceeding 51,000 and a 26% population growth between 2010 and 2023. The average household income within this radius is $93,586. The asking price is $860,640, translating to a price per square foot of $95.63. This is a turnkey investment with a proven track record and significant upside potential. The tenant has consistently renewed the lease since the initial agreement in 2005, further highlighting the location's success.

Location Insight

City

Dallas

County

Paulding

State

Georgia

Longitude

-84.8549

Latitude

33.9198

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments