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Views: 19 DOM: 20 Updated: 04.27.24 Posted: 04.27.24 Status: Active

Summary

Price $1,379,686
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.70%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,023
Lease Start 07-06-2023
#Units 19,986
Price/SF $152.91
Expiration 07-31-2038
Tenant Type Dollar/Discount
NOI $92,439
R. Term 14.2
Ownership Fee Simple
Rent/SF $10.24
Increases 10.0%/14/yrs
Pop 5Mi 734
Lot/AC 0.94
Options 5/5yrs/10%
AHHI 5Mi $55,222

Lease Highlights

  • Brand new 2023 construction
  • Dollar General has 14+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on 1st Street. This prime location is further enhanced by limited competition in the area. Key community establishments nearby include Covington-Douglas High School, First Baptist Church, Covington Fire Station, and Phillips. The 5-mile trade area is supported by a population of 734 residents with an average household income of $55,222. Covington, a town...

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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 : 468 548 711
2023 Total Population : 473 554 718
2023 Employed Civilian Pop : 260 305 391
2023 Total Businesses : 15 16 18
2023 Average Household Income : $ 87,234 $ 87,234 $ 87,586
2023 Total Consumer Spending : $ 15 M $ 18 M $ 23 M
2023 Median Age : 45 45 45
2023 Total Households : 195 232 292
2023 Pop Age 25+: Bachelor's Degree : 55 65 83
2023 Average Home Value : $ 229,062 $ 228,010 $ 242,111
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E0500 Dr 2021 1,900 0.54 mi
1st St 2021 2,500 0.58 mi
N3050 Dr 2021 560 0.61 mi
N3020 Dr 2021 260 1.50 mi

Listing Broker

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