Marcus & Millichap Brokers $575,000 Sale of 9,014-SF Net Leased Dollar General site in Rich Square, NC

                    

Daniel Hurd

RICH SQUARE, NC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General - Rich Square, a 9,014-square foot net-leased property located in Rich Square, NC, according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $575,000.

Daniel Hurd and Cole Skinner, senior investment advisors in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer, a private investor, was also secured and represented by Hurd andSkinner. Broker, Benjamin Yelm, assisted in closing this transaction.

Cole Skinner

“We have always been able to generate a significant amount of interest on deals we exclusively list in the Carolinas and this assignment wasn’t any different,"  said Hurd.

"Home to over 800 Dollar General sites, North Carolina has one of the largest markets for this discount retailer, drawing interest from both local and out of area investors. 

"Our extensive database of other Dollar General owners and calculated marketing campaign allowed us to procure an individual investor who was not only familiar with the tenant but also comfortable with the landlord responsibilities and the rural location. 

Benjamin Yelm

"The deal went under contract after only one week of marketing and closed all cash at 97% of list price.”

Dollar General - Rich Square is located at 509 North Main Street in Rich Square, NC. This is a 9,014 square foot built to suit store that was put up in 2005. 

Dollar General has demonstrated continued commitment to this location as evidence of a recent lease extension which set the current term to more than six years remaining.

Landlord responsibilities are limited to roof, structure and parking lot and tenant reimburses for Real Estate taxes and insurance. 

The store is positioned on a road that sees more than 5,000 vehicles per day and the area hosts ideal dollar store demographics with approximately 1,500 people within three miles. 

The median household within three miles is $25,000 - $30,000 which is the sweet spot for Dollar General locations as well. 

Contacts: 

Grant Fitzgerald

Sales Manager, Tampa

(813) 387-4700

www.MarcusMillichap.com.

Whitney Davis

Marketing Coordinator

Marcus & Millichap 201 North Franklin St. Suite 1100 Tampa, FL 33602 (813) 387-4700 main (813) 387-4743 direct (813) 387-4710 fax whitney.davis@marcusmillichap.com