March 10, 2021 – Dan Bernardini, Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of Dollar General in Warren, Rhode Island. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,750,000.
Dollar General is located at 470 Metacom Avenue in Warren, RI. Redeveloped in 2019, the stand-alone building consists of 7,488 square feet and sits on a 0.97-acre corner lot with 24 striped parking spaces. Dollar General has nine years remaining on their double-net lease term with three five-year renewal options. The lease calls for a 10% rent increase every 5-years throughout their base term and at the start of each option period. Dollar General is strategically located on Metacom Avenue (RI Route 136), a primary north-south thoroughfare bisecting the densely populated Bristol County (East Bay). The location offers access to strong demographics with more than 70,000 people living within a 5-mile radius of the Property with an average household income of $118,000. The property also benefits from its close proximity to national retailers and Roger Williams University, which has an enrollment of more than 5,000 students.
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.