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Views: 106 Updated: 12.20.23 Posted: 06.29.23 Status: Inactive

Summary

Price $1,742,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.20%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,000
Lease Start 09-01-2023
#Units 19,294
Price/SF $174.20
Expiration 08-31-2038
Tenant Type Dollar/Discount
NOI $107,998
R. Term 13.9
Ownership Fee Simple
Rent/SF $10.80
Increases 10.0%/15/yrs
Pop 5Mi 46,972
Lot/AC 4.15
Options 5/5yrs/10%
AHHI 5Mi $68,765

Lease Highlights

  • Brand new 2023 construction
  • Dollar General recently signed a brand new 15-year lease with 5 (5-year) options
  • Lease features 10% rental increases at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Dollar General Corp. 
  • Dollar General is an investment grade tenant

Location Description

This newly constructed 10,000 square foot Dollar General is situated at the signalized, hard corner intersection of East Kercher Road and Park North Drive with access to 12,500 vehicles per day. Located along a dense retail corridor, neighboring national/credit tenants include Tractor Supply Co, Walmart, Aldi, Arby’s, McDonald’s and many others. Additionally, the tenant is within close...

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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:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • 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 : 4,925 23,510 43,891
2023 Total Population : 5,007 23,452 44,117
2023 Employed Civilian Pop : 2,512 11,779 21,959
2023 Total Businesses : 166 1,042 1,513
2023 Average Household Income : $ 72,917 $ 84,342 $ 83,488
2023 Total Consumer Spending : $ 124 M $ 662 M $ 1162 M
2023 Median Age : 52 39 36
2023 Total Households : 1,971 9,013 15,986
2023 Pop Age 25+: Bachelor's Degree : 798 3,368 5,188
2023 Average Home Value : $ 215,747 $ 230,558 $ 233,715
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Local Pine Manor Ave 2020 11,561 0.14 mi
East Kercher Road Colorado St 2021 8,977 0.14 mi
Pine Manor Avenue Colorado St 2021 938 0.20 mi
Messick Drive South E Kercher Rd 2018 7,275 0.25 mi
East Kercher Road Gorham Rd 2021 10,060 0.45 mi
Regent Street Newbury Cir 2018 7,433 0.50 mi
South Main Street W Kercher Rd 2021 12,540 0.64 mi
Dierdorff Road E Kercher Rd 2021 7,403 0.65 mi
Regent Street Stockbridge Ln 2020 2,595 0.71 mi
Regent Street Chestnut Dr S 2021 2,761 0.71 mi

Listing Broker

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