Dollar General

• Long-Term Commitment & Recent Lease Extension- Dollar General has successfully operated at this location since March 2005, demonstrating nearly two decades of proven performance. The tenant recently executed a lease extension, reinforcing its long-term commitment to the site. With approximately 5.3 years of remaining lease term, two additional 5-year renewal options, and 10% rental increases throughout the option periods, the lease structure underscores the property’s importance as a dominant neighborhood retail destination.
• Strong Store Performance – According to Alpha Maps, this location ranks in the top 79th percentile nationally and the top 83rd percentile within North Carolina. These strong performance metrics highlight the store’s operational success and provide confidence in the tenant’s continued occupancy and long-term viability at the site.
• Investment-Grade Corporate Guarantee – The lease is corporately guaranteed by Dollar General Corporation, a Fortune 100 company and the nation’s largest dollar-store retailer, operating more than 20,000 locations across 48 states. Dollar General maintains investment-grade long-term credit ratings from S&P Global, providing investors with the security and reliability of a nationally recognized credit tenant.
• Strategic Regional Location – Positioned along Connelly Springs Road, the property benefits from excellent visibility and access within a trade area encompassing approximately 41,749 residents within a five-mile radius. The site is strategically located approximately 15 miles from Morganton and 18 miles from Hickory, drawing consistent traffic from both the surrounding Caldwell County residential population and commuters throughout the Hickory–Lenoir–Morganton Metropolitan Statistical Area (MSA).
• Recession-Resistant Retailer – Dollar General’s business model has consistently demonstrated resilience across economic cycles. Designated as an essential retailer during the COVID-19 pandemic, the company remained operational while continuing to serve consumers’ daily needs. As the only major discount retailer in the immediate Providence area, this location serves as a critical source for groceries, household goods, and everyday essentials, further supporting its long-term relevance within the community.