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238 Harless Dr 9,026 SF Retail Building Dryden, VA 24243 $1,391,876 CAD ($154.21 CAD/SF) 7.66% Cap Rate



Investment Highlights
- Leased to Dollar General under an absolute triple net (NNN) structure
- Build-to-suit construction completed in 2011 on a ±1.03-acre parcel designed to meet Dollar General’s prototype standards.
- ±6.5 years of firm lease term remaining with four additional five-year renewal options and 10% escalation at each option.
- Highly visible location along U.S. Route 58 in Lee County, VA, benefiting from steady traffic and a broad trade area with limited retail alternatives.
Executive Summary
This single-tenant investment property is 100% leased to Dollar General Corporation (NYSE: DG) under an absolute triple net (NNN) structure, providing zero landlord responsibilities and a dependable income stream. Positioned on a ±1.03-acre parcel with a 9,026 square-foot building, the site was custom-built in 2011 as a build-to-suit location for Dollar General. The asset offers investors the security of a fee-simple interest coupled with the financial strength of a publicly traded, investment-grade guarantor operating over 19,000 stores nationwide. The current lease term, inclusive of an extension, runs through June 30, 2032, offering approximately 6.5 years of remaining term, with four additional five-year renewal options. Annual rent is $76,177, reflecting a 7.66% cap rate, with scheduled 10% rental increases at the start of each renewal period. This predictable structure ensures long-term cash flow protection and stable yield growth.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
9,026 SF
Building Class
B
Year Built
2011
Price
$1,391,876 CAD
Price Per SF
$154.21 CAD
Cap Rate
7.66%
NOI
$106,618 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
4.39 AC
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 25-(A)-29B | Improvements Assessment | $29,144 CAD |
| Land Assessment | $0 CAD | Total Assessment | $29,144 CAD |
Property Taxes
Parcel Number
25-(A)-29B
Land Assessment
$0 CAD
Improvements Assessment
$29,144 CAD
Total Assessment
$29,144 CAD
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238 Harless Dr
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