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Views: 35 DOM: 67 Updated: 05.05.24 Posted: 03.11.24 Status: Active

Summary

Price $1,686,567
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.70%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 08-03-2023
#Units 19,294
Price/SF $159.62
Expiration 08-31-2038
Tenant Type Dollar/Discount
NOI $113,000
R. Term 14.3
Ownership Fee Simple
Rent/SF $10.69
Increases 10.0%/14/yrs
Pop 5Mi 7,282
Lot/AC 1.70
Options 5/5yrs/10%
AHHI 5Mi $68,884

Lease Highlights

  • 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 at the hard corner intersection of State Route 23 and State Route 8, with access to 2,069 vehicles passing by daily. The property is situated less than 15 minutes from Bass Lake, a fishing and water sport destination for the surrounding areas. Additionally, this prime location is further enhanced by limited competition in the area. The 5-mile trade area...

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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:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • 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 : 429 2,331 6,060
2023 Total Population : 440 2,347 6,105
2023 Employed Civilian Pop : 170 1,026 2,661
2023 Total Businesses : 3 17 69
2023 Average Household Income : $ 72,532 $ 71,879 $ 74,654
2023 Total Consumer Spending : $ 10 M $ 57 M $ 149 M
2023 Median Age : 40 41 42
2023 Total Households : 159 905 2,264
2023 Pop Age 25+: Bachelor's Degree : 12 58 271
2023 Average Home Value : $ 166,971 $ 172,906 $ 179,073
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North 900 East N 900 E 2021 2,201 0.59 mi
N 900 E E 200 N 2018 1,739 1.33 mi
East 150 North N 1025 E 2021 425 1.58 mi
East 25 North N 700 E 2021 425 1.71 mi
East 200 North N 700 E 2021 425 1.75 mi
South 900 E E 50 S 2021 2,110 1.96 mi
East 100 South Nicole Dr 2021 3,936 2.10 mi
South 900 E E 150 S 2021 1,593 2.16 mi
E 100 S 2021 3,936 2.30 mi
East 100 South S 1000 E 2018 2,634 2.32 mi

Listing Broker

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