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495 Warren C Coleman Blvd
Concord, NC 28025

$1,909,000

Storefront Retail Residential For Sale  •  15,625 Sq Ft

Property Details

  • Property Type Storefront Retail Residential
  • Total Building Size 15,625 Sq Ft
  • Lot Size 3.43 ac
  • Building Class B
  • Year Built 2003
  • Cap Rate 7.75 %
  • Tenancy Multiple
20 Transit Score
37 Walk Score

Description

RTP Capital Advisors is pleased to present the Dollar General Concord Plaza, a Dollar General anchored multi-tenant retail property in Concord, NC, within in the Charlotte MSA. The property is surrounded by local schools, public parks, and residential areas and is 100% occupied with national and local tenants.

The majority of the tenants have a 10-year or more history with the property. The anchor tenant, Dollar General, has been a tenant at this location since 2002 and maintains a below-market lease rate. With over 15,000 stores across 44 states, Dollar General is one of the largest discount retailers in America.

Concord, the seat of Cabarrus County, is one of the fastest-growing cities in the Charlotte region. Cabarrus County is adjacent to Mecklenburg County, home to Charlotte, and both part of the Charlotte MSA, the largest region in North Carolina and one of the top ten fastest-growing large metros in the US.

Concord is home to some of North Carolina’s top tourist destinations, such as NASCAR’s Charlotte Motor Speedway, known as America’s Home for Racing, and Concord Mills, the largest outlet mall in the state. Concord is also home to many large employers such as Amazon, who employs thousands throughout Cabarrus County and the Charlotte region. Carvana (a leading e-commerce platform for buying and selling used cars) announced it will be locating a new facility in Concord, which is estimated to grow the North Carolina economy by approximately $512 million.

Dollar General Concord Plaza offers investors the opportunity to acquire a 100% leased retail property with a credit tenant anchor and a well established, diverse tenant mix. We are pleased to present this investment opportunity for $1,909,000 at a 7.75% cap rate.

Highlights

Long-Term National & Local Tenants, Anchored by Dollar General
7.75% Cap Rate Below Replacement Cost
Part of the Concord Community: Surrounded by Schools, Parks, and Residential
Concord-Charlotte MSA: One of the Fastest Growing Large Metros in the US

Financial Summary

Cap Rate: 7.75 %

Public Transportation

AirportDriveWalkDistance
Charlotte Douglas International Airport 43 min - 28.8 mi

Parking Details

Parking Available: No
Reserved: No
Type: Surface
Included in Rent: Yes
Raj Ravi 919-808-2801 RTP Capital Advisors
Raj Ravi 919-808-2801 RTP Capital Advisors