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Views: 25 DOM: 24 Updated: 04.22.24 Posted: 04.22.24 Status: Active

Summary

Price $2,087,875
Built/Renov 2024
Tenant Dollar General Plus
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,480
Lease Start 03-07-2024
#Units 19,986
Price/SF $167.30
Expiration 03-31-2039
Tenant Type Dollar/Discount
NOI $133,624
R. Term 14.10
Ownership Fee Simple
Rent/SF $10.71
Increases 5.0%/5/yrs
Pop 5Mi 7,938
Lot/AC 1.95
Options 5/5yrs/5%
AHHI 5Mi $50,797

Lease Highlights

  • 2024 BTS Plus size | Market prototype
  • Dollar General recently executed a brand new 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Plus is strategically located on F-41, with access to 6,786 vehicles passing by daily. The property is conveniently situated less than 1 mile from Alpena Community College and Oscoda-Wurtsmith Airport. Additionally, this prime location is further enhanced by limited competition in the area. The 5-mile trade area is supported by a population of 7,938 residents with an average...

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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 : 1,731 6,181 8,102
2023 Total Population : 1,730 6,159 8,093
2023 Employed Civilian Pop : 616 2,184 3,083
2023 Total Businesses : 118 319 343
2023 Average Household Income : $ 58,321 $ 56,138 $ 57,829
2023 Total Consumer Spending : $ 42 M $ 141 M $ 194 M
2023 Median Age : 51 54 55
2023 Total Households : 811 2,834 3,784
2023 Pop Age 25+: Bachelor's Degree : 160 493 644
2023 Average Home Value : $ 129,741 $ 137,821 $ 144,087
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Huron Road Pine St 2022 14,002 0.52 mi
F-41 Lodge Rd 2022 8,864 0.52 mi
Huron Rd Elk Ln 2015 8,200 0.55 mi
F-41 Lodge Rd 2021 7,359 0.56 mi
Bissonette Road Forest Dr 2022 2,077 0.70 mi
Ottawa Dr N State St 2015 16,200 0.90 mi
Elk Ln 2022 6,132 0.92 mi
Huron Street Harding St 2022 1,237 1.15 mi
North State Street E River Rd 2022 9,898 1.16 mi
West River Road W Mill St 2022 1,963 1.18 mi

Listing Broker

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