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

Summary

Price $996,513
Built/Renov 2011
Tenant Dollar General
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,026
Lease Start 10-01-2011
#Units 19,986
Price/SF $110.40
Expiration 10-31-2026
Tenant Type Dollar/Discount
NOI $79,721
R. Term 2.5
Ownership Fee Simple
Rent/SF $8.83
Increases 10.0%/2/yrs
Pop 5Mi 12,169
Lot/AC 1.20
Options 5/5yrs/10%
AHHI 5Mi $59,863

Lease Highlights

  • Dollar General has been operating in this location since 2011
  • The tenant has 2+ 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 Interstate 81, with access to 32,000 vehicles passing by daily. The property is surrounded by well-known national tenants, including Ace Hardware, Wendy’s, Taco Bell, Walmart, Food Lion, and more. Additionally, in the vicinity is the Southwestern Virginia Mental Health Institute, along with several housing complexes such as Severt Hill Apartments and...

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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 : 456 7,935 12,156
2023 Total Population : 458 8,122 12,469
2023 Employed Civilian Pop : 204 3,946 6,028
2023 Total Businesses : 28 376 505
2023 Average Household Income : $ 55,985 $ 56,175 $ 59,350
2023 Total Consumer Spending : $ 10 M $ 178 M $ 290 M
2023 Median Age : 46 45 46
2023 Total Households : 202 3,551 5,473
2023 Pop Age 25+: Bachelor's Degree : 50 626 1,051
2023 Average Home Value : $ 158,813 $ 147,814 $ 166,602
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lee Highway S Main St 2021 3,300 0.06 mi
Lee Highway S Main St 2018 2,800 0.06 mi
South Main Street Lee Hwy 2018 2,800 0.06 mi
2018 1,500 0.17 mi
I- 81 2021 1,300 0.20 mi
Trillium Ln I- 81 2016 1,700 0.20 mi
Lee Hwy 2021 1,000 0.21 mi
Trillium Ln I- 81 2014 30 0.23 mi
Trillium Ln 2021 33,000 0.27 mi
Trillium Ln 2018 30,000 0.29 mi

Listing Broker

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