Dollar General

5709 6th Avenue, Altoona, PA 16602

$2,107,230

Cap Rate 6.50%

Views: 105 DOM: 234 Updated: 09.12.24 Posted: 01.26.24 Status: Active

Summary

Price $2,107,230	Built/Renov 2023	Tenant Dollar General
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 9,100	Lease Start 10-01-2023	#Units 19,986
Price/SF $231.56	Expiration 10-01-2038	Tenant Type Dollar/Discount
NOI $136,970	R. Term 14.0	Ownership Fee Simple
Rent/SF $15.05	Increases 10.0%/13/yrs	Pop 5Mi 70,816
Lot/AC 0.69	Options 3/5yrs/10%	AHHI 5Mi $52,603

Brendan Eisenbrandt

PennTex Ventures

Contact

Lease Highlights

Brand-new 2023 construction
Dollar General has 14+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental increases at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

This newly constructed Dollar General is strategically located on the hard corner, signalized intersection of 6th Ave and 58th Street which sees 11,504+ vehicles passing by daily. The property is within close proximity to multiple establishments, including Sheetz Headquarters (200+ employees) and Holy Trinity Catholic Middle School (133 students),and more, providing a direct consumer base for...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Near major nationals
Strategically located
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Altoona, Pennsylvania Zip Code 16602 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dollar General
Guarantor:Corp T and Rated
Company:Dollar General Corporation
# 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,454	29,299	69,909
2023 Total Population :	4,524	29,648	70,830
2023 Employed Civilian Pop :	2,119	13,508	32,383
2023 Total Businesses :	251	1,840	3,292
2023 Average Household Income :	$ 83,239	$ 80,476	$ 78,519
2023 Total Consumer Spending :	$ 145 M	$ 895 M	$ 2074 M
2023 Median Age :	49	47	44
2023 Total Households :	2,009	12,729	30,244
2023 Pop Age 25+: Bachelor's Degree :	641	3,887	9,088
2023 Average Home Value :	$ 185,409	$ 185,684	$ 192,949

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	58th St	2022	247	0.16 mi
58th Street	Boyce Ave	2022	5,385	0.16 mi
	Montrose Ave	2022	226	0.17 mi
	Colclesser Ave	2022	59	0.19 mi
	59th St	2022	364	0.21 mi
6th Avenue	49th St	2022	9,345	0.26 mi
	54th St	2022	86	0.28 mi
	54th St	2022	94	0.30 mi
58th Street	Grandview Ave	2022	2,252	0.30 mi
	53rd St	2022	117	0.36 mi

Listing Broker

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