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1402 E Newport Pike 9,100 SF Retail Building Wilmington, DE 19804 $3,336,549 CAD ($366.65 CAD/SF) 8.50% Cap Rate

Retail Buildings Delaware Wilmington 1402 E Newport Pike, Wilmington, DE 19804

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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
Freestanding
Building Size
9,100 SF
Building Class
B
Year Built
2015
Price
$3,336,549 CAD
Price Per SF
$366.65 CAD
Cap Rate
8.50%
NOI
$283,605 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.02 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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

DG est fière d'être le magasin général de quartier d'America. Nous nous efforçons de rendre les achats faciles et abordables grâce à des magasins pratiques et faciles à acheter partout aux États-Unis. Les magasins DG offrent tous les jours à bas prix des articles, notamment de la nourriture, des collations, des produits de santé et de beauté, des produits de nettoyage, des vêtements de base, des articles ménagers, des articles saisonniers, des produits en papier et bien plus encore des marques et produits les plus fiables des États-Unis, ainsi que des marques privées de haute qualité. Depuis la fondation de l'entreprise en 1939, Dollar General s'est engagé à servir ses clients avec valeur et commodité, en offrant des possibilités de carrière à ses employés ou en servant les communautés qu'ils considèrent comme leur maison par le biais de l'alphabétisation et de l'éducation.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Triple Net Apr 2030
1 1
1402 E Newport Pike, Wilmington, DE - Aerial map view
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Source: Local Logic®

Property Taxes

Parcel Number 07-047.20-224 Improvements Assessment $1,291,773 CAD
Land Assessment $176,693 CAD Total Assessment $1,468,466 CAD

Property Taxes

Parcel Number
07-047.20-224
Land Assessment
$176,693 CAD
Improvements Assessment
$1,291,773 CAD
Total Assessment
$1,468,466 CAD
(202) 448-1716

Still interested?

Contact the broker for more information about this property

Contact

  • Listing ID: 33365682

  • Date on Market: 2024-10-01

  • Last Updated:

  • Address: 1402 E Newport Pike, Wilmington, DE 19804

The Retail Property at 1402 E Newport Pike, Wilmington, DE 19804 is currently available for Sale. Contact Horvath & Tremblay for more information.

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1402 E Newport Pike
(202) 448-1716 x

1402 E Newport Pike

Austin Smith
(202) 448-1716

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