Dollar General 2-Unit Strip Center

41125 U.S. 72 Stevenson, AL 35772

41125 U.S. 72, Stevenson, AL, 35772
41125 U.S. 72, Stevenson, AL, 35772 41125 U.S. 72, Stevenson, AL, 35772 41125 U.S. 72, Stevenson, AL, 35772 41125 U.S. 72, Stevenson, AL, 35772 41125 U.S. 72, Stevenson, AL, 35772 41125 U.S. 72, Stevenson, AL, 35772
FOR SALE
Property Type:
Strip Center
Amount:
$600,000
Last Verified:
Oct 29, 2024

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Highlights

  • LONG TERM TENANCY - Dollar General has successfully operated at this location for the past 20+ years, extending it's lease on multiple occasions along the way showing it's long term continued commitment to the site.
  • MINIMAL COMPETITION - The property is more than 8 miles away from the nearest discount store or major grocer, making this a go-to store for local residents and businesses.
  • DIVERSE TENANT MIX – The property features a strong mix of tenants with Dollar General providing stability as a national anchor tenant, and a locally operated Dance Studio which attracts additional foot traffic and offers a service-based business that complements the retail environment.
  • RECENT RENOVATIONS - Landlord has recently renewed the exterior facade of the property as well as part of the interior. Dollar General renovated their interior within this renewal period, further showing their investment in this location.
  • IDEAL DOLLAR GENERAL MARKET - The surrounding area has household income levels of $58,724 in the 1-Mile Ring and $49,632 in the 3-Mile Ring. Surrounding density of over 12,000 residents within a 10-mile radius.
  • PANDEMIC PROOF - Essential Business that remained unaffected throughout the COVID-19 pandemic. Open and paying rent on time in full with no requests for temporary rent abatement nor rent reduction.
  • NATIONALLY RECOGNIZED TENANT - Dollar General is the largest “Small Box” retailer in the nation. Dollar General has been in business since 1939 with over 20,000+ locations Nationwide. NYSE: DG Investment Grade "BBB" rating.

Description

Prime Net Lease is excited to offer a 12,000 SF 2-Unit Dollar General Strip Center located in the thriving community of Stevenson, Alabama. Anchored by Dollar General, which has operated successfully at this location for over 23 years, the property has proven tenant stability with multiple lease renewals. Dollar General is currently on a 5-year NN lease with minimal landlord responsibilities, ensuring a hassle-free investment. With over a year remaining on the existing lease term and One, 3-year renewal option, this location continues to provide a reliable income stream.

Strategically located more than 8 miles from the next closest Dollar General in Hollywood, AL, and 11 miles from Bridgeport, AL, this site serves as a crucial retail hub for the area. The property boasts excellent visibility and is conveniently located on a spacious lot along US-72, a primary thoroughfare in the area with significant daily vehicle traffic. The location benefits from its proximity to nationally recognized tenants such as McDonald's, Burger King, and Ace Hardware, which help attract a steady flow of consumers to the area. This high-traffic corridor ensures consistent exposure and customer access for tenants, enhancing the property's long-term value. Dollar General’s lease is corporately guaranteed by Dollar General Corporation, boasting an Investment Grade "BBB" credit rating, further solidifying the investment’s security.

In addition, the property benefits from a second tenant, D. Williams Dance Academy, which signed a new 3-year lease in April 2023, adding further diversity to the tenant mix and additional income potential. With over a year and a half remaining on their lease, this second tenant enhances the center’s stability and appeal to investors seeking a well-rounded investment opportunity.

The subject offering represents an ideal opportunity for a 1031 exchange buyer to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.

Stevenson is a picturesque town located in northeastern Alabama, nestled within Jackson County. Known for its historical significance and scenic beauty, Stevenson offers the charm of small-town living with convenient access to major transportation routes and surrounding cities. Stevenson's economy is driven by a mix of agriculture, manufacturing, and retail services. The town's strategic location along US-72, a major highway connecting it to larger economic centers such as Huntsville and Chattanooga, makes it a favorable area for businesses. Stevenson's proximity to the Tennessee River also contributes to its regional importance, supporting industries in logistics and energy production.

Stevenson is about 45 miles outside of Chattanooga, Tennessee, the county seat of Hamilton County, Tennessee. Chattanooga is located along the Tennessee River and borders Georgia to the south. With a population of 181,099 in 2020, it is Tennessee's fourth-largest city and one of the two principal cities of East Tennessee, along with Knoxville. Chattanooga anchors the Chattanooga metropolitan area, Tennessee's fourth-largest metropolitan statistical area.

Chattanooga's economy includes a diversified and growing mix of manufacturing and service industries. In addition to corporate business interests, there are many retail shops in Chattanooga, including two shopping malls: Hamilton Place Mall in East Brainerd and Northgate Mall in Hixson. Eastgate Mall in Brainerd used to be a shopping mall, but has changed into a multi-use office building.

Tourism and hospitality have been a growing part of Chattanooga's economy, with 2014 marking the first year for Hamilton County to surpass $1 billion in revenue. Chattanooga touts many attractions, including the Tennessee Aquarium, caverns, and new waterfront attractions along and across the Tennessee River.

In the downtown area is the Chattanooga Choo Choo Hotel, housed in the renovated Terminal Station. Also downtown are the Creative Discovery Museum, a hands-on children's museum dedicated to science, art, and music; an IMAX 3D Theatre; and the newly expanded Hunter Museum of American Art. The Tennessee Riverwalk, an approximately 13-mile-long (21 km) trail running alongside the river, is another attraction for both tourists and residents alike.

Across the river from downtown is the North Shore district, roughly bounded by the Olgiati Bridge to the west and Veterans Bridge to the east. The newly renovated area draws locals and tourists to locally owned independent boutique stores and restaurants, plus attractions along the Chattanooga Riverpark system, including Coolidge Park and Renaissance Park.


Year Built: 1976
Building Size: 12000sq ft
Lot Size: 1.24 acres

Map of 41125 U.S. 72, Stevenson, AL, 35772

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.