Marcus & Millichap of Philadelphia, a commercial real estate brokerage firm specializing in investment sales, recently announced the sale of the 10,640-square-foot Dollar General store on John J. Williams Highway (Route 24) near Millsboro for $2.1 million, according to Sean Beuche, regional manager of the firm’s Philadelphia office.
The property is located at 26012 John J. Williams Highway and the lease is guaranteed by Dollar General Corporation, which has a BBB, or investment grade, classification.
“Dollar General grew through the last recession and has seen increases in sales in as much as 300 percent at some locations throughout this pandemic. We continue to be bullish on essential retailers as an investment strategy and for equity preservation heading into a potential downturn,” said Steve Garthwaite, investment specialist for Marcus & Millichap.
At the nearest intersection, 17,671 cars pass daily and the 5-mile population exceeds 29,600, while the 1-mile median household income exceeds $71,000 per year, making this location ideal for a Dollar General, according to a news release issued by the company.