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Views: 110 DOM: 226 Updated: 09.05.24 Posted: 05.09.24 Status: Active

Summary

Price $1,817,000
Built/Renov 2023
Tenant Dollar General Market
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,687
Lease Start 07-07-2023
#Units 19,986
Price/SF $143.22
Expiration 07-31-2038
Tenant Type Dollar/Discount
NOI $120,810
R. Term 13.7
Ownership Fee Simple
Rent/SF $9.52
Increases 10.0%/14/yrs
Pop 5Mi 8,117
Lot/AC 1.21
Options 4/5yrs/10%
AHHI 5Mi $67,584

Lease Highlights

  • Brand new 2024 construction
  • Dollar General Market has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located on East 1st Street, offering excellent access and visibility from Veterans Memorial Dr, with access to 16,800 vehicles passing by daily. The property is situated one block from Kaplan High School, which has an enrollment of 538 students. It is also within walking distance of several well-known national tenants, including CVS, McDonald’s, Mobile,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 2,204 5,599 7,867
2023 Total Population : 2,298 5,831 8,130
2023 Employed Civilian Pop : 693 1,834 2,811
2023 Total Businesses : 158 231 271
2023 Average Household Income : $ 74,165 $ 68,140 $ 67,646
2023 Total Consumer Spending : $ 64 M $ 151 M $ 201 M
2023 Median Age : 41 41 41
2023 Total Households : 962 2,457 3,288
2023 Pop Age 25+: Bachelor's Degree : 312 517 638
2023 Average Home Value : $ 133,018 $ 132,664 $ 143,472
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East 1st Street Fay Ave 2022 8,377 0.54 mi
West 1st Street S Cushing Ave 2022 9,870 0.60 mi
South Cushing Avenue W Mill St 2022 1,974 0.60 mi
Veteran's Memorial Dr N Irving Ave 2011 9,634 0.63 mi
Hwy 35 E 5th St 2011 5,023 0.64 mi
North Cushing Avenue W 6th St 2022 3,661 0.68 mi
Highway 35 S Lemaire Ave 2022 3,198 0.75 mi
Veterans Memorial Drive Veteran's Memorial Dr 2022 7,796 0.88 mi
State Route 708 S Cushing Ave 2022 391 0.90 mi
North Herpin Avenue Louis St 2022 4,763 1.04 mi

Listing Broker

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