Dollar General - Ridgeway SC

Property Details

• Description: A 9,014 square foot build-to-suit retail store for Dollar General.

• Site: 1.44 acre site with approximately 216 feet of frontage on VA Hwy 256 in Grottoes. This is a commercial/retail corridor which connects the town with I-81 to the west.

• Lease: Ten (10) years net lease commencing July 1, 2009. Expiration June 30, 2019 at the following annual rental rates:

$86,400Years 1-10  
$95,040Years 11-15 (Option 1)
$104,544 Years 16-20 (Option 2)
$115,000 Years 21-25 (Option 3)
$126,500 Years 26-30 (Option 4)
$139,150 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). Landlord is reimbursed $300 per month for exterior maintenance (primarily landscaping and sweeping parking lot) in year one. Reimbursement is adjusted after year one according to actual costs incurred.

 

 

 

Dollar General Store
405 3rd Street (VA Hwy 256)
Grottoes, VA

• Price: $1,050,000

• Build-to-suit for Dollar General occupancy in June 2009

• 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 35 automobiles.

• Excellent 1031 exchange or investment opportunity.

For more information contact:
Anne Wilkins Brooks
Southern Visions Realty, Inc.
955 Old Cherokee Road,
Lexington SC 29072
803.359.9571
"Serving Lexington & Lake Murray, SC"
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