Cap Rate: 5.00%
Annual Rent: $105,986
Square Footage: 9,100
Year Built: 2022
This is the unique opportunity to purchase a corporately guaranteed Dollar General asset with a newly executed absolute NNN lease in Spartanburg, 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.
Spartanburg is a city in and the seat of Spartanburg County, South Carolina, United States. The city of Spartanburg has a municipal population of 38,732 as of the 2020 Census, making it the 11th-largest city in the state.
Spartanburg is the second-largest city in the greater Greenville–Spartanburg–Anderson Combined Statistical Area, which has a population of 1,385,045 as of 2014. It is part of a 10-county region of northwestern South Carolina known as "The Upstate," and is located 98 miles (158 km) northwest of Columbia, 80 miles (130 km) west of Charlotte, North Carolina, and about 190 miles (310 km) northeast of Atlanta, Georgia.