118 DRUG STORE Street
118 DRUG STORE Street
Cliffside, NC 28114
$1,500,000
- Lot Size: 1.31 Acres
Description
1.31 ACRE FULLY DEVELOPED #8865 Square Foot VERY WELL MAINTAINED DOLLAR GENERAL STORE LOCATED CLIFFSIDE, NORTH CAROLINA,(MOORESBORO ADDRESS) Built Year 2009 WITH CORPORATE GUARANTEED NNN LEASE UNTIL YEAR 2030 WITH #5 - 5 Year Options until Year 2055 WITH 10% INCREASES PER OPTION. *This is a VERY HIGH ANNUAL SALES DG STORE ; GROSS ANNUAL SALES FOR YEAR 2024 WERE $1,812,232.00 * AT A $1.5 Million Purchase Price will create a 5.8% Cap Rate Years 2025 through 2030 with an AVERAGE CAP Rate of 6.8% for the entire 28.6 Years Lease Period REMANING AS FOLLOWS: *YEARS 2025 THROUGH 2030 ANNUAL LEASE PAYMENT = $87,372.00 YEARS 2030 THROUGH 2035 ANNUAL LEASE PAYMENT = $90,680.40 YEARS 2035 THROUGH 2040 ANNUAL LEASE PAYMENT = $99,748.44 YEARS 2040 THROUGH 2045 ANNUAL LEASE PAYMENT = $109,723.32 YEARS 2045 THROUGH 2050 ANNUAL LEASE PAYMENT = $120,695.64 YEARS 2050 THROUGH 2055 ANNUAL LEASE PAYMENT = $132,765.24 *This property will have generated $3,081,148.00 in NNN Lease Payments.
Property Summary
| Property Type: | Commercial Sale | Property Subtype : | Retail |
| Year Built : | 2009 | Construction Type : | Site Built |
| Lot Size : | 1.31 Acres |
Property Features
- Corner Lot
- Level
- Open Lot
- Paved
Views
- City
More Information
- Construction : Metal
- Roof : Metal
- Parking : Parking Lot, Parking Space(s)
- Heating : Heat Pump
- Cooling : Central Air
- Water Source : City
- Road : Publicly Maintained Road
- Listing Terms : Cash, Conventional
- Possible Use : Commercial
Based on information submitted to the MLS GRID as of 05-31-2025 01:30:04 UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.