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Electra TX - Dollar General & Dental Office
611 W Front Avenue | Electra, TX 76360
$310,000
Price7.75%
Cap Rate$24,060
NOI13,080
± SF Offering GLADescription
Opportunity to purchase a 0.60-acre parcel with a freestanding, multi-tenant building currently occupied by Dollar General and a dental office. Dollar General executed a 5-year lease extension providing for an initial term through July 2023 with 2 (5-year) options to extend, demonstrating their commitment to the site. Headquartered in Charlotte, NC, Dollar General is a nationally recognized brand with over 15,000 locations. Offering presents the opportunity to add value through lease-up of existing vacant space. Property is priced well below replacement cost at $24/SF.
Location
Dollar General is strategically located at the signalized, hard corner intersection of W Front Avenue and State Highway 25, averaging a combined 5,460 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign along W Front Avenue. Nearby direct on/off ramp access to U.S. Highway 287 (15,900 VPD), the primary east/west freeway traveling through Electra. There is virtually no competition in the surrounding 5-mile trade area, providing the center with a consistent consumer base.