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Dollar General | Absolute NNN Lease | +/- 14 Years Remaining | Asheville, NC MSA

60 Old Mars Hill Hwy, Weaverville (Asheville MSA), NC 28787

Listing Price: $2,180,800

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$12.72

Investment Overview

Marcus & Millichap is pleased to present for sale a Dollar General single-tenant, triple-net investment offering in Weaverville, North Carolina. Recently built in 2020, the property sits on 1.54 acres at the intersection of Old Mars Hill Highway and Murphy Hill Road along Interstate 26. There is currently just under 14 years remaining on Dollar General’s original fifteen-year firm-term lease as well as five, five-year renewal option periods with 10 percent rental increases at the beginning of each option period. The Town of Weaverville rests in the shadow of the Blue Ridge Mountains of Western North Carolina. Surrounded on all sides by scenic views, Weaverville is just 10 miles north of Asheville, within Buncombe County and bordered by Reems Creek to the east. The Weaverville entrance to the Blue Ridge Parkway is only 15 miles outside of town. Just four minutes south of the property lies the “main & main” of Weaverville, where there are numerous national retailers such as, Publix, Sonic Drive-In, Walmart, Aldi, CVS, McDonald’s, Burger King, Lowe’s Home Improvement, AutoZone, Goodwill and various hotels. Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Investment Highlights

  • BRAND-NEW 2020 CONSTRUCTION DOLLAR GENERAL
  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • CORNER LOCATION ALONG OLD MARS HILL HIGHWAY (6,600+ VPD) WITH DIRECT ACCESS TO INTERSTATE I-26 (40,500+ VPD)
  • LOCATED WITHIN 10 MILES OF ASHEVILLE, NORTH CAROLINA, WHICH HAS AN MSA POPULATION IN EXCESS OF 450,000
  • LONG-TERM LEASE WITH +/- 14 YEARS REMAINING WITH FIVE, FIVE-YEAR OPTIONS TO RENEW
  • TAXES, INSURANCE, ROOF & STRUCTURE, AND PARKING LOT & MATINENANCE ARE ALL TENANT RESPONSIBILITIES
  • DOLLAR GENERAL IS AN INVESTMENT-GRADE & RECESSION-PROOF TENANT

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Discount

Dollar General | Absolute NNN Lease | +/- 14 Years Remaining | Asheville, NC MSA

Listing Price: $2,180,800

Cap Rate
5.25%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$12.72

Investment Highlights

  • BRAND-NEW 2020 CONSTRUCTION DOLLAR GENERAL
  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • CORNER LOCATION ALONG OLD MARS HILL HIGHWAY (6,600+ VPD) WITH DIRECT ACCESS TO INTERSTATE I-26 (40,500+ VPD)
  • LOCATED WITHIN 10 MILES OF ASHEVILLE, NORTH CAROLINA, WHICH HAS AN MSA POPULATION IN EXCESS OF 450,000
  • LONG-TERM LEASE WITH +/- 14 YEARS REMAINING WITH FIVE, FIVE-YEAR OPTIONS TO RENEW
  • TAXES, INSURANCE, ROOF & STRUCTURE, AND PARKING LOT & MATINENANCE ARE ALL TENANT RESPONSIBILITIES
  • DOLLAR GENERAL IS AN INVESTMENT-GRADE & RECESSION-PROOF TENANT

Investment Overview

Marcus & Millichap is pleased to present for sale a Dollar General single-tenant, triple-net investment offering in Weaverville, North Carolina. Recently built in 2020, the property sits on 1.54 acres at the intersection of Old Mars Hill Highway and Murphy Hill Road along Interstate 26. There is currently just under 14 years remaining on Dollar General’s original fifteen-year firm-term lease as well as five, five-year renewal option periods with 10 percent rental increases at the beginning of each option period. The Town of Weaverville rests in the shadow of the Blue Ridge Mountains of Western North Carolina. Surrounded on all sides by scenic views, Weaverville is just 10 miles north of Asheville, within Buncombe County and bordered by Reems Creek to the east. The Weaverville entrance to the Blue Ridge Parkway is only 15 miles outside of town. Just four minutes south of the property lies the “main & main” of Weaverville, where there are numerous national retailers such as, Publix, Sonic Drive-In, Walmart, Aldi, CVS, McDonald’s, Burger King, Lowe’s Home Improvement, AutoZone, Goodwill and various hotels. Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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