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DOLLAR GENERAL | CHINCOTEAGUE, VIRGINIA

Purchase Price
$1,212,193
Location
4360 Pension St
Cap Rate
7.75%
Annual Rent
$93,495.96
Building Size
9,202 SF
Land Area
1.21 Acres
Ownership
Fee Simple
Lease Type
NN
Term Remainning
6.5 Years
LEASE EXPIRATION
07/31/2032
Renewal Options
Two (2) - Five (5) Year
RENT INCREASES
10% at Options
Parking
23 Spaces
Year Built
1992
APN
030A6A000000300
Traffic Counts
8,500 VPD

INVESTMENT HIGHLIGHTS

 

DOLLAR GENERAL CORPORATE LEASE:

  • 6.5 Years of Remaining Lease Term
  • Two (2) - Five (5) Year Option Periods with 10% Rental Increases
 

RECENT LEASE EXTENSION:

  • In November 2024, Dollar General Extended the Lease Through July 31, 2032
 

STRONG OPERATING HISTORY - EST. 1992:

  • Dollar General Has Been Operating at this Location for 30+ Years
  • Since 1992, Dollar General Has Extended the Eight (8) Times
 

BRAND NEW ROOF:

  • Entire Roof was Replaced in November 2022
  • 30-Year Warranty
 

STRONG PLACER AI DATA - 232,100 VISITS:

  • Nationwide (673/19,466) = Top 4%
  • Statewide (4/472) = Top 1%
  • 30-Mile Radius = Top Store
 

RECENT REMODEL - APRIL 2024:

  • Tenant Recently Remodeled the Store at their Sole Cost and Expense
 

PROXIMITY FROM CHINCOTEAGUE:

  • Ocean City, MD | 56 Miles
  • Rehoboth Beach, DE | 82 Miles
  • Wilmington, DE | 161 Miles
  • Baltimore, MD | 169 Miles
  • Washington, DC | 170 Miles
  • Richmond, VA | 189 Miles
  • Philadelphia, PA | 192 Miles
 

TRADE AREA DEMOGRAPHICS:

  • 1-Mile: 2,922 Residents | $95,519 Average Household Income
  • 3-Mile: 5,022 Residents | $88,656 Average Household Income
  • 5-Mile: 6,095 Residents | $89,350 Average Household Income
  • 7-Mile: 9,670 Residents | $89,308 Average Household Income

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