Dollar General

1406 North High Street, Millville, NJ 08332

$1,589,678

Cap Rate 7.75%

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

Summary

Price $1,589,678	Built/Renov 1994/2012	Tenant Dollar General
Cap Rate 7.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 8,640	Lease Start 02-08-2012	#Units 19,986
Price/SF $183.99	Expiration 04-30-2027	Tenant Type Dollar/Discount
NOI $123,200	R. Term 2.11	Ownership Fee Simple
Rent/SF $14.26	Increases 10.0%/3/yrs	Pop 5Mi 29,717
Lot/AC 1.05	Options 4/5yrs/10%	AHHI 5Mi $66,811

Josh Bishop

Matthews REIS

Contact

Lease Highlights

Dollar General has been operating in this location since 2012
The tenant has 3 years remaining on the current lease term with 4 (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 N 2nd Street, with access to a daily traffic count of 14,000 vehicles. Situated in an excellent retail corridor, the property is surrounded by well-known national tenants such as Target, Lowe’s, Walmart, Kohl’s, Taco Bell, CVS, O'Reilly Auto Parts, and more. Nearby educational institutions include Millville Public School, Millville High School, and...

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Key Features

Build to suit
In location for years
Dense retail corridor
Near major nationals
Major MSA
Long operation history
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Millville, New Jersey Zip Code 08332 Broker Site Page

Maps

Local Information

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 :	6,438	28,720	56,071
2023 Total Population :	6,564	28,821	56,605
2023 Employed Civilian Pop :	2,333	12,581	24,077
2023 Total Businesses :	301	926	1,536
2023 Average Household Income :	$ 70,301	$ 90,781	$ 89,555
2023 Total Consumer Spending :	$ 158 M	$ 899 M	$ 1666 M
2023 Median Age :	37	39	38
2023 Total Households :	2,590	11,462	21,514
2023 Pop Age 25+: Bachelor's Degree :	690	2,542	5,491
2023 Average Home Value :	$ 246,373	$ 287,875	$ 279,384

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North High Street	Oakwood Dr	2018	7,538	0.07 mi
North 2nd Street	Prudential	2020	12,816	0.11 mi
North 2nd Street	Espoma Rd	2019	13,930	0.11 mi
N High St	Oakwood Dr	2006	13,400	0.14 mi
North 2nd Street	Espoma Rd	2022	13,939	0.18 mi
North 2nd Street	Espoma Rd	2019	15,441	0.19 mi
Sharp Street	Fernwood Dr	2020	19,539	0.22 mi
Sharp St	Glenside Rd	2005	11,017	0.25 mi
North High Street	E Foundry St	2017	11,440	0.31 mi
Glenside Rd	Sunset Dr	2006	1,750	0.34 mi

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