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Views: 60 DOM: 94 Updated: 08.23.24 Posted: 06.14.24 Status: Active

Summary

Price $1,395,000
Built/Renov 2013
Tenant Dollar General
Cap Rate 7.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,026
Lease Start 01-14-2013
#Units 19,986
Price/SF $154.55
Expiration 01-31-2028
Tenant Type Dollar/Discount
NOI $102,504
R. Term 3.4
Ownership Fee Simple
Rent/SF $11.36
Increases 10.0%/4/yrs
Pop 5Mi 111,409
Lot/AC 1.20
Options 4/5yrs/10%
AHHI 5Mi $54,267

Lease Highlights

  • Dollar General has 3+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located at the intersection of 20th Street Ensley and Avenue I, with access to 17,500 vehicles passing by daily. Within 3 miles of the property, there are numerous educational institutions, including Birmingham-Southern College, Miles College, and Fairfield High School, which has an enrollment of 4,500 students. The immediate area is surrounded by well-known...

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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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Listing Broker

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