Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Columbus Dollar General Plaza, located at 1400 Walnut Street in Columbus, Texas. The subject property is a 29,509 square foot retail center occupied by Dollar General. Columbus Dollar General Plaza allows for an investor to purchase a shopping center in Texas for only $33.72 per square foot to the building, which is significantly below replacement cost. This is an excellent opportunity for a user to operate in vacancy at the Property, or for an investor to add value by leasing vacancies. Dollar General has seven years remaining on its lease, which shields an investor from operating expense-related-carrying costs, as the rent paid by Dollar General is greater than the property’s operating expenses. Should a purchaser lease only 8,000 of the 17,750 square feet that is currently vacant at a low rate of $6 per square foot gross, this would yield an investor a pro-forma cap rate of 7.3 percent. This example is indicative of the significant upside potential of the Subject Property.