Dollar General

Dollar General

658 Rices Depot Rd
Rice, VA

Price: $1,467,000
Cap: 6.80%
NOI: $99,702
Building Size: 7,545 SF
Lot Size: 1.96 AC

Investment Highlights

Brand New Upgraded Construction 7,545 SF Build to Suit Dollar General in Rice, VA. Store Opened in January 2018.

This property is well located on busy Prince Edward Highway/US Hwy 460 which has over 13,000 vehicles per day.

Rice, VA is located in Prince Edward County, six miles east from Farmville which is the county seat. Rice also sits in-between and approximately an hour away from both Richmond and Lynchburg, VA. Prince Edward County is located in “the Heart of Virginia", at the crossroads of US 460 and US 15, two of Virginia’s primary east-west and north-south transportation corridors, which provide direct access to four interstate highway systems: I-95, I-85, I-81, and I-64. Prince Edward County serves as the commercial hub for the seven-county region in South Central Virginia and serves the market needs of over 176,000 people and is within a day's drive of 76% of the nation's population. Prince Edward County is a leader in Southside Virginia when it comes to industrial growth due to its unique central location. Prince Edward County is located in the center of an area served by several of Virginia's most beautiful state parks and is the only county in the Commonwealth of Virginia to claim three State Parks wholly or partially within its borders.

High Bridge Trail is a 31-mile long state park built from a converted rail line and designated as a National Recreation Trail in 2013. The trail crosses through the center of Rice, Virginia, which is also the location of the trail's Eastern parking and access The trail is used for hiking, bicycling and horseback riding and had  239,622 visitors in 2016. The park’s centerpiece is the majestic High Bridge, which is more than 2,400 feet long and 125 feet above the Appomattox River. It is the longest recreational bridge in Virginia and among the longest in the United States. Rice is also home to Sailor's Creek Battlefield State Park location of the final battle of the American Civil War.

The subject property has a brand new 15-year Corporate Guaranteed NNN Lease with Dollar General with 14.5 years remaining. The Tenant is 100% responsible for all expenses, including roof, structure, taxes, insurance, and common area maintenance. There are 10 percent rent increases in each of the five, 5-year option periods.

Don McMinn

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