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DG Market | Kingsport, TN 1221 Lynn Garden Dr

10,542 SF Retail Building Kingsport, TN 37665 £2,091,949 (£198/SF) 6.25% Net Initial Yield

Investment Highlights

  • NNN Single Tenant Investment Opportunity
  • 15-Year Lease with Five (5), Five (5) Year Options
  • Corporate Guarantee by Dollar General Corporation
  • Located in the Kingsport-Johnson City-Bristol MSA
  • 5% Increases Every 5 Years During the Initial Term and Each Option

Executive Summary

Randall Commercial Group, LLC is pleased to exclusively offer for sale this brand new, free-standing DG Market store located in Kingsport, TN. The subject property has a 15-year NNN lease with 5% increases every 5 years during the primary term and each option, and a lease commencement date of May 31, 2024. Kingsport, TN is part of the Kingsport-Johnson City-Bristol MSA, one of the premier locations for growth in a state characterized by a continuous influx of new residents from across the country, and Kingsport was ranked #7 by Redfin as one of the fastest-growing cities in the state. Dollar General is an investment-grade tenant with a Standard & Poor’s “BBB” credit rating.

Attachments

1248.23 -- Kingsport, TN 25938 OM

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,542 SF
Building Class
B
Year Built
2024
Price
£2,091,949
Price Per SF
£198
Net Initial Yield
6.25%
NOI
£130,747
Tenancy
Single
Number of Floors
1
Building FAR
0.21
Land Acres
1.15 AC
Parking
36 Spaces (3.41 Spaces per 1,000 SF Leased)
Frontage
104 ft on Lynn Garden Drive

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Dollar General
  • Retailer
  • 10,542 SF
  • £12.40
  • Triple Net
  • May 2039
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Dollar General Retailer 10,542 SF £12.40 Triple Net May 2039
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(662) 234-4044

  • Listing ID: 31012938

  • Date on Market: 21/02/2024

  • Last Updated:

  • Address: 1221 Lynn Garden Dr, Kingsport, TN 37665

The Retail Property at 1221 Lynn Garden Dr, Kingsport, TN 37665 is currently available For Sale. Contact Randall Commercial Group, LLC for more information.

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1221 Lynn Garden Dr, Kingsport, TN for sale Building Photo- Image 1 of 3
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1221 Lynn Garden Dr, Kingsport, TN for sale Building Photo- Image 2 of 3
1259.23 -- Kingsport, TN 30170 Site Plan

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© 2024 CoStar Group

DG Market | Kingsport, TN | 1221 Lynn Garden Dr
(662) 234-4044 x

DG Market | Kingsport, TN | 1221 Lynn Garden Dr

1/2

Elizabeth Randall

(662) 234-4044

(662) 234-4044

Brian Phillips

(662) 638-0722

(662) 638-0722

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