Cap Rate: 6.75%
Net Operating Income: $89,856
Lot Size: 1.26 AC
This is the unique opportunity to purchase a corporately guaranteed Dollar General asset with a newly executed absolute NNN lease in Laurens, South Carolina.
This is a new 15 year lease calling for zero landlord obligations. The tenant has five 5 year renewal options with 10% increases. The building is newly constructed. This is an ideal opportunity for a passive investor looking for a long-term stable investment.
Laurens is a city in Laurens County, South Carolina. The population was 9,139 at the 2010 census. It is the county seat of Laurens County. It is part of the Greenville–Mauldin–Easley Metropolitan Statistical Area.
A variety of industries exist within the county, including corporations like CeramTec, International Paper, Milliken & Co. and others. Walmart operates a distribution center outside of the city near Interstate 385, which serves as a major employer. The area has seen several recent economic retail developments, and is seeing new capital investment in heavy industry, including a major new transmission production facility for German ZF Group.