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DOM: 125 Updated: 07.21.24 Posted: 04.16.24 Status: Sold 08.19.24

Summary

Price $1,892,000 $2,038,000
Built/Renov 2024
Tenant Dollar General
Cap Rate 7.15% 6.64%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 04-17-2024
#Units 19,986
Price/SF $179.06 $192.88
Expiration 04-30-2039
Tenant Type Dollar/Discount
NOI $135,252
R. Term 13.11
Ownership Fee Simple
Rent/SF $12.80
Increases 5.0%/5/yrs
Pop 5Mi 8,981
Lot/AC 1.84
Options 5/5yrs/5%
AHHI 5Mi $66,006

Lease Highlights

  • Brand new 2024 construction
  • Dollar General recently executed a brand new 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on East Boulevard, a major retail thoroughfare, with access to 14,500 vehicles. The property enjoys a prime location across from Williamston Square, a prominent shopping center anchored by Food Lion. Moreover, it sits southwest of Roanoke Landing, another shopping center featuring Belk and Tractor Supply Co. Additionally, the site benefits from its...

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Maps

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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 : 3,272 6,436 8,715
2023 Total Population : 3,352 6,613 8,981
2023 Employed Civilian Pop : 1,256 2,746 3,770
2023 Total Businesses : 307 488 529
2023 Average Household Income : $ 55,130 $ 60,361 $ 66,006
2023 Total Consumer Spending : $ 69 M $ 153 M $ 230 M
2023 Median Age : 44 45 46
2023 Total Households : 1,425 2,856 3,906
2023 Pop Age 25+: Bachelor's Degree : 326 597 799
2023 Average Home Value : $ 143,056 $ 151,238 $ 161,247
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Boulevard Park St 2022 14,463 0.08 mi
East Boulevard Peaks St 2019 7,500 0.20 mi
East Boulevard Peaks St 2018 6,200 0.20 mi
East Boulevard Plymouth St 2022 6,540 0.27 mi
Jamesville Road Warren St 2022 3,307 0.30 mi
Washington Street S Elm St 2022 5,581 0.31 mi
US 13;US 17 US Hwy 64 Alt 2022 9,946 0.31 mi
US 64 ALT Jamesville Rd 2020 9,100 0.36 mi
East Blvd Jamesville Rd 2018 8,600 0.37 mi
US Hwy 17 Hwy 64 Alt 2018 9,800 0.38 mi

Listing Broker

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Britt Raymond

SRS National Net Lease Group

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  • 107 Listings
  • 20676 Views
  • 52 Sold
Matthew Mousavi

SRS National Net Lease Group

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  • 369 Listings
  • 74611 Views
  • 172 Sold

Britt Raymond is a Managing Director and Market Leader of New York Capital Market. Britt spearheads efforts to grow SRS’s presence across the northeast. She also advises owners of net lease assets and anchored shopping centers nationwide to buy, acquire, or finance. She also provides 1031 Tax Deferred Exchange advisory. She has closed over $2.75 billion in commercial real estate transactions in her career. Britt Raymond joined SRS in 2017 with eight years of commercial real estate experience. S

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Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

SRS National Net Lease Group

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  • 420 Listings
  • 82059 Views
  • 204 Sold

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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