July 16, 2024 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a new construction Dollar General in Bristol, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,276,000.
Dollar General is located along US Highway 11 (Lee Highway) in Bristol, Virginia. The new construction Dollar General has a 15-year Absolute NNN Lease followed by five (5), 5-year renewal options. The lease features 5% rent increases every 5-years throughout the primary lease term and at the start of each renewal option. The Property is situated on a 1.47-acre lot with excellent visibility and frontage along US Highway 11, the area’s primary commercial and commuter corridor. The Property is seconds from Interstate 81 and offers convenient access to VA Route 645 and Interstate 381. The Property is surrounded by national retailers and restaurants that drive traffic to the area, and enjoys close proximity to area schools, and heavily populated residential neighborhoods. Additionally, the Property is 4-miles from the new $400 Million Hard Rock Hotel & Casino development. The area is also home to the Bristol Motor Speedway which hosts NASCAR and NHRA Drag Racing Events, attracting hundreds of thousands of visitors each year.
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.