708 S. Grant St., Fitzgerald, GA

Retail for Sale - $875,000 - 11,840 Sq. Ft. on 0.62 acres

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #971320
Location708 S. Grant St.
Fitzgerald GA 31750
Last UpdatedJanuary 2nd, 2018
TypeRetail
Price$875,000
Building11,840 Sq. Ft.
Land0.62 acres

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Property Description

Bull Realty is pleased to offer this Dollar General investment opportunity for purchase. It is a modified NN lease property with minimal landlord responsibilities, which include the roof, structure and parking area. The 11,840 SF is larger than your typical Dollar General store of 8,000 to 9,000 SF. The store was constructed in 2009 and has seven plus years remaining on an existing term through February 2025, with 5-5 year renewal options. The annual rent increases 3% in 2020 and each of the renewal options annual rent increases 10%. Located on 0.62 acres in the center of town within a successful convenient strip center, the property is within close proximity to the town's numerous national retail tenants.

Dollar General has shown commitment to this store by completing interior remodeling projects in 2016. Offered at a 7.5% initial cap rate, this is rare and ideal investment for an individual looking for a 1031 Exchange or a property with minimumal landlord responsibilities. The property offers outstanding real estate appreciation and a corporate guarantee backing by the most successful retailer in the country with an investment grade credit rating.

Location Description:

The store is located in Fitzgerald, GA, which is situated an hours drive east of Albany and an hours drive north of Valdosta in Southern Georgia.

Fitzgerald's National Register Downtown Historic District features pedestrian friendly amenities including over 26 blocks of historic streetscape, the Grand Plaza Park, the Grand Theater and Conference Center, the Carnegie Center, the Stokoe-Davis Parking Garden, the Blue & Gray Museum, restored Courthouse, restored City Hall, Fire Engine Museum, Farmer's Market; and an eclectic grouping of architecture, shops, eateries, and activities to please your palette.

Highlights:

>> Ideal 1031 replacement property

>> Competitive 7.5% cap rate

>> 2016 franchisee remoldeled the interior space

>> 2017 landlord painted the building exterior and resurfaced the parking area

>> 7 plus years remaining on existing term, with a 3% rental increase in 2020

>> 5-5 year renewal options each with 10% rental increases

>> Property is located along the town's main commercial artery adjacent to a CVS

>> Franchisee reimburses landlord annually up to $3,600.00 for parking and landscaping maintenance


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