1406 High StMillville, NJ 08332

For Sale
$1,589,678

High-traffic Dollar General, Millville, NJ

Overview

Added:
Dec 11, 2024
Days on market:
94
This fee-simple retail investment presents a compelling opportunity. The property, located at 1406 N High St, Millville, NJ 08332, consists of an 8,640 square foot building on a 1.05-acre lot. It's a single-story structure built in 1994 and renovated in 2012, currently 100% occupied by a Dollar General, Dollar Tree, and Family Dollar. The property benefits from a strong location with high traffic counts exceeding 114,000 vehicles per day and a 5-mile population of approximately 57,934 residents. The average household income within this radius is $66,811. The current lease is a Net Lease (NN+) with a corporate guarantee from Dollar General Corporation, providing significant financial security. The lease commenced February 8, 2012, and has a remaining term of approximately 3 years, with four 5-year renewal options, each including a 10% rent increase. The current Net Operating Income (NOI) is $123,200, resulting in a 7.75% cap rate. The asking price is $1,589,678. This investment offers a stable, long-term income stream with significant upside potential due to the strong tenant, favorable lease terms, and prime location within a thriving retail corridor featuring national brands such as Target, Lowe's, Walmart, and more. Dollar General's investment-grade credit rating (BBB, S&P) further enhances the security of this offering.

Highlights

  • $1,589,678 asking price for a Net Lease retail property.
  • Fee simple ownership of an 8,640 square foot building on a 1.05-acre lot.
  • 100% occupancy with a credit-rated, corporate-guaranteed tenant (Dollar General, Dollar Tree, Family Dollar).
  • 7.75% cap rate with a current NOI of $123,200.
  • 10-year lease with four, 5-year options at 10% rent bumps; approximately 3 years remaining.
  • Strong location in Millville, NJ with high traffic counts (14,000 VPD) and a dense population (57,934 within 5 miles).

Property Details for 1406 High St

Property type
Other retail properties, Restaurants
Square Feet
8,640 SF
Year Built/Renovated
1994/2012
Buildings
1
Stories
1
Lot Size (sq. ft)
45,738 SF

Location Insight

City
Millville
County
Cumberland
State
New Jersey
Latitude
39.4122829
Longitude
-75.0405567
1406 High St, Millville, New Jersey

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1406 High St
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