This sale of a net lease Dollar General Investment property had a closing price of $927,350.
The Commercial Real Estate Investment is a 9,014 Square feet free-standing retail property. This property is currently leased to Dollar General Corporation on a long-term, net lease basis.
The Buyer of this Net Lease investment property was a private, 1031-exchange buyer who was seeking a stable and passive investment.
A 1031 exchange, otherwise known as a tax deferred exchange is a simple strategy and method for selling one property, that's qualified, and then proceeding with an acquisition of another property (also qualified) within a specific time frame.
Also a "1031 exchange" is unique because the entire transaction is treated as an exchange and not just as a simple sale. This 1031 exchange method allows the taxpayer(s) to qualify for a deferred gain treatment for Investments, if performed properly.
A 1031 exchange can be used on a Walgreens sale, Publix, Target, Home Depot, etc. as long as the Investor goes through the proper channels to do a 1031 correctly.