Sale Price: $1,789,000
Cap Rate: 6.50%
- New construction retail site: New construction located at the signalized intersection of Town House Road and Heald Highway/SR 17/SR 131 (6,500 ADT), the property is less than one mile from the Knox County Fairgrounds and Clark Field. There is no other freestanding national general store competition within approximately 10 miles, and the average household income within five miles of the property exceeds $68,000.
- Established, recognized retail tenant: Dollar General has over 12,500 convenient, easy-to-shop stores operating in 43 states delivering everyday low prices on name-brand products. Net sales increased by 7.9 percent in 2016, and the company is set to open 1,000 new locations in 2017.
- Centralized market location: The village of Union is situated along the St. George River in Knox County and is roughly equidistant from the state capital of Augusta and the quaint coastal towns of Rockland and Camden. The property is within close proximity to state Routes 14, 17, and 235 (part of the George’s River Scenic Byway), as well as Clark Field and Knox County Fairgrounds. Economic drivers to the area focus around the state’s main agricultural and industrial outputs, including blueberries, commercial fishing, and textiles.
- Quality, long-term investment: Fifteen-year base lease with four options to extend with a 10 percent increase within each option. Absolute NNN lease with no landlord responsibilities.
- There are no features available