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Property
Details •
Description: A 9,014 square foot build-to-suit retail store for Dollar General. •
Site: ±1.30 acre site with approximately 216 feet of frontage on US
Hwy 221 just north of the intersection with SC Hwy 92 in the downtown area of
Enoree. US Hwy 221 connects Enoree with Spartanburg to the north and I-385 to
the south. SC Hwy 92 provides easy access to I-26. •
Lease: Ten (10) years net lease commencing November 1, 2008. Expiration October
31, 2018 at the following annual rental rates:
| $62,700 | Years
1-10 | |
| $68,976 | Years
11-15 | (Option
1) | | $75,864 | Years
16-20 | (Option
2) | | $83,448 | Years
21-25 | (Option
3) | | $91,800 | Years
26-30 | (Option
4) | | $100,980 | Years
31-35 | (Option
5) | Tenant
responsible for taxes and insurance (full pass-throughs) and interior maintenance
(to include glass). Landlord responsible for roof/structure, parking lot (unless
damage caused by tenant), and for repairs to HVAC, mechanical and plumbing systems
if cost is in excess of $1,000. Landlord is reimbursed $350 per month for years
1-10 for exterior maintenance. Reimbursement per month increases as follows: $400
(Option I), $450 (Option2), $500 (Option 3), $550 (Option 4) and $600 (Option5). •
Price: $798,725 |
Dollar
General Store
US Highway 221 @ Parker Road
Enoree SC •
Build-to-suit for Dollar General in 2008. Ten (10) year net lease with five 5-year
options. •
Dollar General was founded in 1955. The company currently operates over 8,200
corporate stores in 32 states, primarily in the Southern, Eastern and Midwestern
United States. They have also expended into the Southwestern US. Sales for the
last twelve months were in excess of $9.1 Billion. On
March 12, 2007 Kohlberg Kravis Roberts (KKR), a large NYC-based private-equity
firm, offered to purchase Dollar General for approximately $7.3 Billion. The Dollar
General board unanimously approved the deal and recommended that shareholders
vote for it. shareholders approved the transaction in May and the sale closed
on July 6, 2007. •
Pre-engineered metal building with decorative split-face block and glass storefront. •
Improvements measure 9,014 square feet. On-site parking for 31 automobiles. •
Excellent 1031 exchange or investment opportunity. For
more information contact:
Robert
P. Wilkins, Jr.
Southern
Visions Realty, Inc.
955 Old Cherokee Road,
Lexington SC
29072
803.359.9571 |
