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Property
Details
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Description: A 9,014 square foot renovation for Dollar General.
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Site: ±.958 acre site with approximately 128 feet of frontage on SC Hwy 23
in downtown Ridge Spring, Saluda County, South Carolina. Store willl serve communities of Monetta and Ward as well.
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Lease: Ten (10) years net lease commencing February 1, 2009. Expiration January 31, 2019 at the following annual rental rates:
| $67,600 | Years
1-10 | | | $74,360 | Years
11-15 | (Option
1) | | $81,796 |
Years
16-20 | (Option
2) | | $89,976 |
Years
21-25 | (Option
3) | | $98,973 |
Years
26-30 | (Option
4) | | $108,870 |
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 $300 per month for years
1-10 for exterior maintenance. Reimbursement per month increases as follows: $350
(Option I), $400 (Option2), $450 (Option 3), $500 (Option 4) and $550 (Option5).
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Dollar
General Store
904 West Main St (SC Hwy 23)
Ridge Spring, SC
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Price: $819,000
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Build-to-suit for Dollar General occupancy in February 2009
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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 9,014 square feet. On-site parking for 35 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 |
