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Views: 89 Updated: 01.12.24 Posted: 09.27.23 Status: Inactive

Summary

Price $800,000
Built/Renov 2004
Tenant Dollar General
Cap Rate 7.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,125
Lease Start 02-01-2004
#Units 19,294
Price/SF $98.46
Expiration 01-31-2030
Tenant Type Dollar/Discount
NOI $60,000
R. Term 5.4
Ownership Fee Simple
Rent/SF $7.38
Increases 10.0%/6/yrs
Pop 5Mi 40,141
Lot/AC 0.70
Options 5/5yrs/10%
AHHI 5Mi $67,344

Lease Highlights

  • Dollar General has been operating in this location since 2004 and recently extended their lease
  • Tenant has 6 years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features a 3.5% rental increase in 2024 and a 10% increase at the start of each renewal option
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease (NYSE: DG)
  • Investment grade tenant (S&P: BBB)

Location Description

Dollar General is strategically positioned along Clay Street, which serves as the primary commercial corridor in the area, with a daily traffic count of 18,100 vehicles. The property enjoys excellent visibility and frontage and is surrounded by national retailers and local schools, which contribute to the high volume of traffic in the area. Situated between Interstate 20 and US Route 61 (1...

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Maps

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  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • 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 : 5,313 16,503 25,279
2023 Total Population : 5,578 17,179 26,230
2023 Employed Civilian Pop : 1,907 6,252 10,261
2023 Total Businesses : 402 1,122 1,395
2023 Average Household Income : $ 49,900 $ 70,125 $ 73,448
2023 Total Consumer Spending : $ 109 M $ 461 M $ 723 M
2023 Median Age : 37 40 40
2023 Total Households : 2,478 7,504 11,279
2023 Pop Age 25+: Bachelor's Degree : 412 1,961 3,374
2023 Average Home Value : $ 149,134 $ 163,559 $ 174,339
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Grove St Chestnut St 2018 1,900 0.12 mi
Clay Street Hayes St 2021 12,000 0.15 mi
Mission 66 Baldwin Ferry Rd 2018 11,000 0.20 mi
Buck Street Pierce St 2021 220 0.29 mi
Mission 66 Hossley St 2018 6,700 0.30 mi
Mission 66 Mission PkDr 2021 6,600 0.30 mi
Baldwin Ferry Road Hope St 2018 1,700 0.31 mi
Baldwin Ferry Road Clay St 2021 1,700 0.31 mi
Crawford Street Fillmore St 2021 110 0.32 mi
Grove Street Hildegarde Ter 2021 1,700 0.32 mi

Listing Broker

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