July 10, 2020 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Dollar General in Mechanicsville, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,665,000, a 6.0% cap rate.
Dollar General is located at 6698 Cold Harbor Road in Mechanicsville, Virginia. This is a new construction Dollar General, the 9,100 square foot stand-alone building was completed in 2020 and sits on a 1.5 acre parcel of land. Dollar General has 14+ years of term remaining on a corporate guaranteed Absolute Net lease followed by five, 5-Year renewal options. The lease calls for a 10% increase at the start of all five option periods. Dollar General is well positioned in the bedroom community of Mechanicsville, just northeast of Richmond.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.