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Views: 96 DOM: 154 Updated: 07.26.24 Posted: 06.19.24 Status: Active

Summary

Price $2,003,325
Built/Renov 2024
Tenant Dollar General
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,668
Lease Start 01-14-2024
#Units 19,986
Price/SF $158.14
Expiration 01-31-2039
Tenant Type Dollar/Discount
NOI $130,216
R. Term 14.2
Ownership Fee Simple
Rent/SF $10.28
Increases 5.0%/5/yrs
Pop 5Mi 6,088
Lot/AC 2.80
Options 5/5yrs/5%
AHHI 5Mi $81,972

Lease Highlights

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

Location Description

Dollar General is strategically located at the signalized, hard corner intersection of East 9th Avenue and State Hwy 11, two primary thoroughfares, with access to a combined daily traffic count of 6,718 vehicles. The property is surrounded by well-known national tenants including McDonald’s, Kwik Trip, Subway, Family Dollar, Piggly Wiggly, and more. The 5-mile trade area is supported by a...

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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
2029 Total Population : 2,883 4,930 6,046
2024 Total Population : 2,925 4,954 6,055
2024 Employed Civilian Pop : 1,427 2,453 3,032
2024 Total Businesses : 126 190 224
2024 Average Household Income : $ 65,717 $ 80,219 $ 85,102
2024 Total Consumer Spending : $ 71 M $ 148 M $ 188 M
2024 Median Age : 39 42 43
2024 Total Households : 1,223 2,094 2,507
2024 Pop Age 25+: Bachelor's Degree : 249 434 543
2024 Average Home Value : $ 276,602 $ 295,296 $ 310,144
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
10th St 4th Ave E 2019 360 0.25 mi
County Highway T Hwy 11 2019 3,200 0.45 mi
1st Center Ave 9th St 2019 7,100 0.46 mi
9th Ave E 2nd St 2013 2,600 0.47 mi
1st St Hwy 104 2019 4,800 0.54 mi
1st Center Ave 13th St 2019 7,700 0.54 mi
State Hwy 11 9th Ave E 2019 4,700 0.55 mi
1st Center Ave 2nd St 2019 6,500 0.64 mi
9th Ave E 19th St 2016 2,700 0.65 mi
State Hwy 104 1st St 2019 3,400 0.65 mi

Listing Broker

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