| Purchase Price | $2,076,923 |
|---|---|
| Annual Rental Income | $135,000 |
| Cap Rate | 6.50% |
| Lease Term | 15 Years |
| City | Covington |
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Covington is the county seat of Tipton County with a population around 8,600, positioned approximately 42 miles northeast of Memphis along the US‑51 corridor. The average household income is just over $73,500, reflecting a modest but stable consumer base. The city benefits from resilient demand drivers including public education and municipal services, with a large high school and multiple elementary/middle schools present. Its location along a well-traveled highway ensures strong visibility and traffic, while the downtown historical district and local points of interest help maintain steady community engagement. With limited discount retail competition nearby and a trade area supported by both local households and commuters to Memphis, the Dollar General site is well positioned to deliver consistent performance.