12604 Maccorkle Ave 11,692 SF Retail Building Chesapeake, WV 25315 $1,248,980 CAD ($106.82 CAD/SF) 9.50% Cap Rate

We are pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 12604 MacCorkle Avenue SE in Chesapeake, West Virginia (the “Property”). Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option.
The Property is well located along MacCorkle Avenue SE (WV Route 61), the area’s primary commercial and commuter corridor, and enjoys outstanding frontage and visibility with a large pylon sign. The Property is positioned in the heart of Chesapeake and Dollar General benefits from a lack of competition as it is one of the only national retailers serving the town. The Property is surrounded by area businesses, schools and residential neighborhoods, and provides convenient access to Interstate 64, US Route 60, and WV Route 94. Chesapeake is positioned along the banks of the Kanawha River approximately 15 miles southeast of Charleston, the state capital and economic center of central West Virginia.
Highlights:

LONG TERM TENANT: Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The lease includes attractive 10% rent increases at the start of each renewal option, providing a steady increase in income and an attractive hedge against inflation.
OPERATING EXPENSE PROTECTION: Dollar General reimburses 100% of real estate taxes, insurance, and common area maintenance, preserving in-place cash flow and providing protection against rising operating expenses.
INVESTMENT GRADE CREDIT: Dollar General has the highest credit rating among its peers and holds investment grade credit – rated BBB (S&P) and Baa2 (Moody’s). Dollar General operates over 20,500 locations throughout the country. Dollar General’s net sales increased 5% to $40.6 Billion in fiscal year 2024.
PROXIMITY TO CHARLESTON: Charleston, the capital and largest city of West Virginia, is located approximately 15 miles away. The city has a population of about 45,000, reflecting its role as a central hub for government, commerce, and culture in the region. Charleston’s diverse economy includes sectors such as healthcare, education, government services, and chemical manufacturing. Charleston is home to several major companies and institutions, including the headquarters of the Appalachian Power Company and Charleston Area Medical Center, one of the region's largest healthcare providers. Charleston also offers an abundance of shopping with national retailers and restaurants as well as a rich cultural scene with various attractions and events.
RECESSION RESISTANT TENANT: Dollar General thrives in middle-America markets where incomes may be modest, proving the tenant to be a resilient and recession-resistant retailer. Dollar General has reported positive year-over-year growth in net sales every year since the company went public in 2009.
TRAFFIC COUNTS & DEMOGRAPHICS: More than 5,600 vehicles pass the Property each day along MacCorkle Avenue SE (WV Route 61). Over 11,200 people live within 5-miles of the Property with an average household income of $70,537. More than 46,300 people live within 10-miles of the Property with an average household income of $98,337.