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Property
Details
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Description: A +/-10,000 square foot renovation for Dollar General. Three year old building was purchased and renovated to DG specifications.
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Site: ±1.06 acre site with approximately 150 feet of frontage on US
Hwy 121 just north of the intersection with SC Hwy 92 in the downtown area of
Johnston. A historic and stable community in Edgefield County. Located within two blocks of former store. Reported strong performing store.
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Lease: Ten (10) years net lease commencing January 15, 2009. Expiration January 14, 2019 at the following annual rental rates:
| $69,000 |
Years
1-10 | |
| $75,900 |
Years
11-15 | (Option
1) | | $83,490 |
Years
16-20 | (Option
2) | | $91,839 |
Years
21-25 | (Option
3) | | $101,023 |
Years
26-30 | (Option
4) | | $111,125 |
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).
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Dollar
General Store
383 Lee Street (SC Hwy 121)
Johnston, SC
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Price: $812,000
• Relocation for Dollar General with January 2009 occupancy.
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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.
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Improvements measure approximately 10,000 square feet. On-site parking for 29 automobiles.
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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 |
