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Views: 66 DOM: 196 Updated: 04.28.24 Posted: 11.03.23 Status: Active

Summary

Price $1,470,000
Built/Renov 2021
Tenant Dollar General
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,100
Lease Start 07-19-2021
#Units 19,294
Price/SF $161.54
Expiration 07-31-2036
Tenant Type Dollar/Discount
NOI $91,840
R. Term 12.2
Ownership Fee Simple
Rent/SF $10.09
Increases 10.0%/13/yrs
Pop 5Mi 6,392
Lot/AC 2.50
Options 5/5yrs/10%
AHHI 5Mi $78,638

Lease Highlights

  • Dollar General has 12+ years remaining on the current lease term with 5 (5-year) options to extend
  • Lease features 10% rental increase at the beginning of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: DG)
  • Investment grade tenant (S&P: BBB)

Location Description

Dollar General is strategically positioned, with street visibility and pylon signage, along S. Coldwater Rd. which sees 2,129+ vehicles passing by daily. Nearby retailers include U-HAUL, ACE Hardware, Isabella Bank, and more, promoting strong crossover traffic to the site. The property is also just a 15-minute drive from Central Michigan University which is home to over 10,000 students. An...

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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: Baa3
  • 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 : 374 3,680 6,636
2023 Total Population : 369 3,673 6,688
2023 Employed Civilian Pop : 138 1,503 2,800
2023 Total Businesses : 16 52 129
2023 Average Household Income : $ 100,040 $ 93,473 $ 89,036
2023 Total Consumer Spending : $ 12 M $ 120 M $ 202 M
2023 Median Age : 42 42 42
2023 Total Households : 140 1,490 2,611
2023 Pop Age 25+: Bachelor's Degree : 44 434 759
2023 Average Home Value : $ 259,302 $ 243,723 $ 232,476
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West River Road S Woodruff Rd 2022 1,439 0.68 mi
South Coldwater Road W Pickard Rd 2022 2,535 1.63 mi
North Littlefield Road Haupt Dr 2022 985 2.16 mi
South Rolland Road W Pickard Rd 2022 221 2.52 mi

Listing Broker

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