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Views: 69 DOM: 170 Updated: 04.11.24 Posted: 11.28.23 Status: Active

Summary

Price $1,949,000
Built/Renov 1970/2024
Tenant Dollar General Market
Cap Rate 6.90%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 13,110
Lease Start 01-01-2024
#Units 19,294
Price/SF $148.67
Expiration 01-01-2037
Tenant Type Dollar/Discount
NOI $134,509
R. Term 12.7
Ownership Fee Simple
Rent/SF $10.26
Increases 5.0%/6/yrs
Pop 5Mi 4,447
Lot/AC 2.53
Options 5/5yrs/10%
AHHI 5Mi $53,653

Lease Highlights

  • 2024 remodel featuring state of the art materials and high-level finishes
  • Dollar General Market recently signed a brand-new 13-year lease with 5 (5-year) options to extend
  • Lease features 5% rental increase every 5 years throughout the initial term and a 10% increase at the start of each option
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically fronting East 2nd Street, with access to 6,100 vehicles passing by daily. This location serves as the only dollar store catering to the local community, benefiting from the advantage of limited competition. Additionally, the property has excellent visibility via street frontage and multiple points of access. The immediate trade area is surrounded by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General Market
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,796 3,134 4,335
2023 Total Population : 1,852 3,217 4,447
2023 Employed Civilian Pop : 874 1,411 1,932
2023 Total Businesses : 107 145 157
2023 Average Household Income : $ 55,137 $ 53,909 $ 53,653
2023 Total Consumer Spending : $ 42 M $ 69 M $ 96 M
2023 Median Age : 46 47 47
2023 Total Households : 856 1,435 2,000
2023 Pop Age 25+: Bachelor's Degree : 183 285 393
2023 Average Home Value : $ 184,731 $ 181,610 $ 181,102
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East 2nd Street Hudgins St 2018 5,900 0.06 mi
East 2nd Street Hervey St 2021 5,700 0.06 mi
E 2nd St Hortense St 2016 3,900 0.13 mi
North Marshall Street E 3rd St 2021 1,300 0.16 mi
North Marshall Street Bluegrass St 2020 1,100 0.16 mi
E 2nd St N Marshall St 2018 5,900 0.16 mi
E 2nd St N Main St 2016 5,300 0.23 mi
North Main Street E 2nd St 2021 4,200 0.23 mi
North Main Street Mecklenburg Dr 2018 4,000 0.23 mi
East Sycamore Street N Marshall St 2020 1,000 0.24 mi

Listing Broker

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