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Views: 18 DOM: 16 Updated: 04.30.24 Posted: 04.30.24 Status: Active

Summary

Price $988,800
Built/Renov 2011
Tenant Dollar General
Cap Rate 8.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,100
Lease Start 03-01-2011
#Units 19,986
Price/SF $108.66
Expiration 03-31-2026
Tenant Type Dollar/Discount
NOI $81,576
R. Term 1.10
Ownership Fee Simple
Rent/SF $8.96
Increases 10.0%/2/yrs
Pop 5Mi 13,166
Lot/AC 0.71
Options 5/5yrs/10%
AHHI 5Mi $55,280

Lease Highlights

  • Dollar General has 1+ 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
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on North 2nd Avenue, with access to 5,600 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart, Lowe’s, AutoZone, Food Lion, Tractor Supply, and more. Additionally, there are nearby educational institutions and housing complexes such as Mountain Villa Apartments, Ridgemont Place Apartments, Western...

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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 : 2,443 6,543 12,010
2023 Total Population : 2,521 6,737 12,344
2023 Employed Civilian Pop : 982 2,849 5,590
2023 Total Businesses : 98 391 504
2023 Average Household Income : $ 54,062 $ 59,366 $ 65,028
2023 Total Consumer Spending : $ 59 M $ 165 M $ 311 M
2023 Median Age : 46 48 46
2023 Total Households : 1,240 3,127 5,394
2023 Pop Age 25+: Bachelor's Degree : 174 479 937
2023 Average Home Value : $ 164,527 $ 164,564 $ 170,101
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
1305 S 2nd Ave 2022 2,280 0.08 mi
S 2nd Ave N 2nd Ave 2004 6,100 0.10 mi
North 2nd Avenue E Jackson St 2022 3,346 0.18 mi
US 220 Business E Adams St 2022 4,749 0.18 mi
West Washington Street S 2nd Ave 2022 2,388 0.23 mi
South 2nd Avenue W Washington St 2022 10,766 0.26 mi
S 2nd Ave 2022 7,920 0.40 mi
West Washington Street S Ayersville Rd 2022 2,138 0.47 mi
West Main Street N 10th Ave 2022 2,327 0.56 mi
North 2nd Avenue Utility St 2022 3,048 0.59 mi

Listing Broker

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