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Views: 18 DOM: 23 Updated: 04.24.24 Posted: 04.24.24 Status: Active

Summary

Price $1,990,000
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,668
Lease Start 06-01-2024
#Units 19,986
Price/SF $157.09
Expiration 05-31-2039
Tenant Type Dollar/Discount
NOI $134,316
R. Term 15.0
Ownership Fee Simple
Rent/SF $10.60
Increases 5.0%/5/yrs
Pop 5Mi 3,606
Lot/AC 2.62
Options 5/5yrs/5%
AHHI 5Mi $62,596

Lease Highlights

  • Brand new 2024 construction
  • Dollar General will be executing 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 periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located at a full-stop 4-way intersection on Faison Highway, with access to 6,200 vehicles passing by daily. The property is further enhanced by the limited competition in the immediate trade area. The 5-mile trade area is supported by a population of 3,606 residents with an average household income of $62,596. Faison is a town primarily in Duplin County,...

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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:19,986
  • 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 : 161 1,125 3,475
2023 Total Population : 165 1,158 3,606
2023 Employed Civilian Pop : 59 431 1,468
2023 Total Businesses : 5 26 99
2023 Average Household Income : $ 52,910 $ 55,664 $ 62,596
2023 Total Consumer Spending : $ 2 M $ 23 M $ 78 M
2023 Median Age : 36 37 38
2023 Total Households : 61 458 1,401
2023 Pop Age 25+: Bachelor's Degree : 34 201 378
2023 Average Home Value : $ 151,316 $ 156,294 $ 153,217
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Giddensville Road Faison Hwy 2021 835 0.30 mi
Faison Highway Carroll A Britt Rd 2019 5,200 0.36 mi
N N Ellis Road Giddensville Rd 2021 129 0.69 mi
Faison Highway Carroll A Britt Rd 2021 5,951 0.85 mi
Brewer Road Lake Artesia Rd 2021 176 0.88 mi
East Darden Road Faison Hwy 2021 466 0.98 mi
Faison Highway Hillcrest Ln 2021 5,273 1.06 mi
Lake Artesia Road Brewer Rd 2021 595 1.41 mi
Spencer Road Faison Hwy 2021 427 1.51 mi
Faison Highway Spencer Rd 2021 6,150 1.59 mi

Listing Broker

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