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Dollar General | Absolute NNN Lease | +/- 13 Years Remaining | Raleigh, NC MSA

72 Spring Hill Church Rd, Lillington (Raleigh MSA), NC 27546

Listing Price: $1,677,757

Cap Rate
5.35%
Tenant Name
Dollar General
Years Remaining On Lease
12.7
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$9.97

Investment Overview

Marcus & Millichap is pleased to present for sale a Dollar General single-tenant, triple-net investment offering in Lillington, North Carolina. Recently built in 2019, the property sits on 1.82 acres at the intersection of North Carolina Highway 27 and Spring Hill Church Road. There is currently just under 13 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. Lillington, North Carolina--location of the subject property--has experienced above average growth for "smaller areas" in the U.S. since 2010 with a population increase of 16.31%. In 2019, the median household income in Lillington was $40,000, which fits Dollar General's business model well. Located just twenty-five miles south is Fayetteville, North Carolina, which is the sixth largest city in the state and is bordered by Fort Bragg. Fort Bragg, which is only twenty miles from the subject property, is home to one of the largest United States Military bases in the country with nearly 54,000 military personnel. 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 2019 CONSTRUCTION DOLLAR GENERAL
  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • CORNER LOCATION ALONG NORTH CAROLINA HWY 27 (4,900+ VPD) AND SPRING HILL CHURCH ROAD (670+ VPD)
  • CENTRALLY LOCATED BETWEEN TWO LARGE METROPOLITAN STATISTICAL AREAS; RALEIGH AND FAYETTEVILLE, NORTH CAROLINA
  • LONG-TERM LEASE WITH +/- 13 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 | +/- 13 Years Remaining | Raleigh, NC MSA

Listing Price: $1,677,757

Cap Rate
5.35%
Tenant Name
Dollar General
Years Remaining On Lease
12.7
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$9.97

Investment Highlights

  • BRAND-NEW 2019 CONSTRUCTION DOLLAR GENERAL
  • ABSOLUTE NNN LEASE WITH ZERO LANDLORD RESPONSIBLITIES-ALL EXPENSES PAID BY TENANT
  • CORNER LOCATION ALONG NORTH CAROLINA HWY 27 (4,900+ VPD) AND SPRING HILL CHURCH ROAD (670+ VPD)
  • CENTRALLY LOCATED BETWEEN TWO LARGE METROPOLITAN STATISTICAL AREAS; RALEIGH AND FAYETTEVILLE, NORTH CAROLINA
  • LONG-TERM LEASE WITH +/- 13 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 Lillington, North Carolina. Recently built in 2019, the property sits on 1.82 acres at the intersection of North Carolina Highway 27 and Spring Hill Church Road. There is currently just under 13 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. Lillington, North Carolina--location of the subject property--has experienced above average growth for "smaller areas" in the U.S. since 2010 with a population increase of 16.31%. In 2019, the median household income in Lillington was $40,000, which fits Dollar General's business model well. Located just twenty-five miles south is Fayetteville, North Carolina, which is the sixth largest city in the state and is bordered by Fort Bragg. Fort Bragg, which is only twenty miles from the subject property, is home to one of the largest United States Military bases in the country with nearly 54,000 military personnel. 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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