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Views: 121 Updated: 03.26.24 Posted: 11.17.23 Status: Inactive

Summary

Price $2,368,526
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,668
Lease Start 01-26-2024
#Units 19,294
Price/SF $186.97
Expiration 01-25-2039
Tenant Type Dollar/Discount
NOI $153,954
R. Term 14.1
Ownership Fee Simple
Rent/SF $12.15
Increases 5.0%/5/yrs
Pop 5Mi 6,890
Lot/AC 1.72
Options 4/5yrs/5%
AHHI 5Mi $81,846

Lease Highlights

  • Brand new 2024 construction
  • Dollar General Market recently signed a new 15-year lease with 4 (5-year) options to extend
  • The lease features 5% rental increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

This newly constructed Dollar General Market is strategically located on 11th Street, benefiting from it close proximity to Genesis Medical Center, DeWitt and MercyOne DeWitt Family Medicine. The property is surrounded by well-known national tenants, including McDonald's, Pizza Hut, Dairy Queen, and several others. Moreover, it is conveniently situated within 1 mile of Ekstrand Elementary...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General Market
  • 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 : 4,626 6,400 7,626
2023 Total Population : 4,650 6,437 7,684
2023 Employed Civilian Pop : 2,119 3,020 3,729
2023 Total Businesses : 239 335 375
2023 Average Household Income : $ 101,895 $ 101,432 $ 106,141
2023 Total Consumer Spending : $ 165 M $ 232 M $ 288 M
2023 Median Age : 42 42 43
2023 Total Households : 1,876 2,643 3,148
2023 Pop Age 25+: Bachelor's Degree : 848 1,163 1,348
2023 Average Home Value : $ 238,779 $ 242,767 $ 249,432
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
11th St 14th Ave 2006 8,900 0.06 mi
11th Street Westbrook Dr 2022 8,900 0.12 mi
12th Ave 15th St 2006 600 0.29 mi
7th St 10th Ave 2006 2,140 0.38 mi
14th Ave Elm Ct 2006 1,630 0.41 mi
14th St 8th Ave 2006 1,500 0.44 mi
8th Ave 12th St 2006 2,500 0.47 mi
Springbrook Rd 225th St 2006 390 0.55 mi
6th Ave 14th St 2006 2,650 0.66 mi
8th St 5th Ave 2006 870 0.74 mi

Listing Broker

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