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Dollar General 1402 E Newport Pike 9,100 SF Retail Building Wilmington, DE 19804 $3,330,070 CAD ($365.94 CAD/SF) 8.50% Cap Rate
Investment Highlights
- Attractive Rent Increases
- Investment Grade Credit
- Recession Resistant Tenant
- Zero Management Responsibilities
- Strategic Retail Location
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 1402 E Newport Pike in Wilmington, Delaware (the “Property”). Dollar General commenced a 15-year Absolute Net Lease in 2015 that has 4+ years of term remaining followed by five (5), 5-year renewal options. The lease features 10% rent increases at the start of each renewal option. The Property is positioned in the Newport Heights neighborhood of Wilmington at the signalized intersection of Becker Avenue and Newport Pike, the area’s primary commercial and commuter corridor traversing southwestern Wilmington. Dollar General benefits from excellent visibility and frontage in a densely populated residential neighborhood. Dollar General offers convenient access to DE Route 141 and Interstates 95, 295 and 495, and is easily accessible from all areas of the city.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,100 SF
Building Class
B
Year Built
2015
Price
$3,330,070 CAD
Price Per SF
$365.94 CAD
Cap Rate
8.50%
NOI
$283,055 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.02 AC
Opportunity Zone
Yes
Zoning
CN - 210 - Franchise Retail
Parking
25 Spaces (2.75 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- Apr 2030
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | Apr 2030 |
Property Taxes
| Parcel Number | 07-047.20-224 | Improvements Assessment | $315,111 CAD |
| Land Assessment | $220,510 CAD | Total Assessment | $535,620 CAD |
Property Taxes
Parcel Number
07-047.20-224
Land Assessment
$220,510 CAD
Improvements Assessment
$315,111 CAD
Total Assessment
$535,620 CAD
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Dollar General | 1402 E Newport Pike
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