Marcus & Millichap Brokers $1 Million Sale of Net-Leased Dollar General Site in Roper, NC

Cole Skinner

ROPER, NC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Dollar General, a 9,026-square foot net-leased property located in Roper, NC, according to Christopher W. Travis, regional manager of the firm’s Tampa office. 

The asset sold for $1,080,000.

Cole Skinner and Daniel Hurd, investment specialists 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 secured and represented by Bobby Gross and Darpan Patel, investment specialists in Marcus & Millichap’s Tampa and Cincinnati offices. Broker, Ben Yelm, assisted in closing this transaction.

Daniel Hurd

           “It was great to work with Darpan and Bobby and collaborate internally on this deal," said Skinner.

 "That allowed a lot of really good communication from start to finish, which was advantageous for both of our clients and overall it was a very smooth and seamless transaction.

"I know our seller was very pleased with how efficient the process was, and that’s what matters.”

Added Hurd:  “This exclusive listing generated multiple offers and went under contract after just a couple weeks of being on market.

Bobby Gross 

"There is a large appetite for these shorter term, absolute net lease dollar stores and the sellers were able to capitalize on the investor demand. We were fortunate to have a great deal team involved on this transaction and closed without any delays.”

Patel said, “It was great to help our client execute a 1031 exchange and secure financing, especially during such an uncertain time period.

"The sentiment in the market is driving investors to acquire stable, credit tenants and Dollar General property provide an easier entry point."

”

Added Gross, “As I echo what has already been said, I would just like to add, the buyer expressed her gratitude by commending Marcus & Millichap, for our platform, professionalism and efficiency. 

Darpan Patel

"Professionally, it truly was a great experience to represent her and get this deal done.  Thank you to all parties involved.”

Dollar General is located in Roper, NC.  The property was developed in 2010 and sits on a large 1.7-acre parcel.  This is an absolute NNN lease, which provides a passive investment vehicle for the investor.

           The store is positioned strategically along the main traffic artery through town, which allows excellent visibility in this niche market. There is a competition void, with the closest dollar store being over five miles away.

CONTACT:

Christopher Travis

Regional Manager

 Tampa, FL

(813) 387-4700