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Views: 21 DOM: 20 Updated: 04.27.24 Posted: 04.27.24 Status: Active

Summary

Price $1,443,547
Built/Renov 2012
Tenant Dollar General
Cap Rate 7.70%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,925
Lease Start 02-27-2012
#Units 19,986
Price/SF $145.45
Expiration 09-30-2027
Tenant Type Dollar/Discount
NOI $111,100
R. Term 3.4
Ownership Fee Simple
Rent/SF $11.19
Increases 10.0%/3/yrs
Pop 5Mi 232,608
Lot/AC 0.60
Options 4/5yrs/10%
AHHI 5Mi $92,661

Lease Highlights

  • Dollar General has been operating in this location since 2012
  • The tenant has 3+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on Boston Post Road, with access to a daily traffic count of 18,800 vehicles. The property is situated within an exceptional retail corridor, surrounded by well-known national tenants such as Walmart, Taco Bell, O'Reilly Auto Parts, Harps Food, Burger King, and more. Additionally, it is within proximity to the University of New Haven, VA Connecticut...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,986
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. The stores deliver everyday low prices on items including food, snacks, health, and beauty aids, cleaning supplies,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,633 117,109 234,302
2023 Total Population : 17,870 116,748 233,183
2023 Employed Civilian Pop : 8,542 57,260 118,592
2023 Total Businesses : 478 5,266 10,367
2023 Average Household Income : $ 84,589 $ 88,113 $ 96,729
2023 Total Consumer Spending : $ 433 M $ 3488 M $ 7642 M
2023 Median Age : 31 34 35
2023 Total Households : 5,898 45,721 91,537
2023 Pop Age 25+: Bachelor's Degree : 1,592 13,775 30,628
2023 Average Home Value : $ 250,785 $ 297,494 $ 343,609
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 1 Ardale St 2022 871 0.07 mi
Orange Ave Budd Pl 2012 19,400 0.08 mi
Daytona Street Sanford St 2021 700 0.11 mi
Orange Ave Norfolk St 2005 21,900 0.31 mi
Farwell Street Dalton St 2021 3,700 0.35 mi
Fresh Meadow Road Ardale St 2021 1,300 0.39 mi
Allan Street Chauncey St 2021 200 0.54 mi
Boston Post Rd Wade St 2005 17,900 0.55 mi
Campbell Ave 1st Ave 2012 22,100 0.71 mi
Campbell Avenue Spring St 2021 19,400 0.71 mi

Listing Broker

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