2730 Lucas DrBeaumont, TX 77703

For Sale
$1,312,061

High-yield retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 9,026-square-foot Dollar General store located at 2730 East Lucas Drive, Beaumont, TX 77703. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $85,284. Built in 2014, this single-tenant, net-leased (NNN) property features a corporate guarantee from Dollar General, ensuring a secure investment. The lease, commencing April 17, 2014, has a remaining term of approximately 4.4 years, with four 5-year renewal options, each including a 10% rent increase. The property sits on a 1.85-acre lot and benefits from a prime location near major highways (Hwy 287) and national retailers such as Target, Home Depot, Best Buy, and Walmart. The surrounding area demonstrates strong demographics, with a 3-mile population of 40,000 and an average household income of $83,000. The absence of immediate discount grocery competition further enhances the property's value. Dollar General Corporation's investment-grade credit rating (BBB) provides additional security. The building is in excellent condition, requiring no deferred maintenance. The asking price is $1,312,061, translating to a price per square foot of $145.36. This is a rare opportunity to acquire a high-performing, well-located retail asset with a strong tenant and significant upside potential.

Highlights

  • Excellent Hwy 287 access & proximity to Target, Home Depot, Best Buy, & Walmart.
  • No nearby discount grocery store competition in a densely populated area.
  • Strong demographics: 40,000 residents within 3 miles, $83,000 average household income.
  • 10% rent increase upon lease renewal in five years.
  • Investment-grade (BBB) tenant: Dollar General.
  • Building in excellent condition; no deferred maintenance.

Property Details for 2730 Lucas Dr

Property type
Other retail properties, Individual retail properties
Square Feet
9,026 SF
Year Built
2014
Lot Size (sq. ft)
80,586 SF

Location Insight

City
Beaumont
County
Jefferson
State
Texas
Latitude
30.1260823
Longitude
-94.127694
2730 Lucas Dr, Beaumont, Texas

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2730 Lucas Dr
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