Dollar General

6811 FM1788, Midland, TX 79707

$1,818,080

Cap Rate 5.00%

Views: 120 Updated: 01.14.24 Posted: 07.21.23 Status: Inactive 08.16.23

Summary

Price $1,818,080	Built/Renov 2016	Tenant Dollar General
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 9,026	Lease Start 04-17-2017	#Units 19,294
Price/SF $201.43	Expiration 04-30-2032	Tenant Type Dollar/Discount
NOI $90,904	R. Term 7.7	Ownership Fee Simple
Rent/SF $10.07	Increases 10.0%/4/yrs	Pop 5Mi 4,164
Lot/AC 1.33	Options 3/5yrs/10%	AHHI 5Mi $174,817

Lease Highlights

Tenant has 8+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features 10% rental increases every 5 years thought the initial term and in option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease by Dollar General Corporation
Investment grade tenant (S&P: BBB)
Income tax free state

Location Description

Dollar General is located along FM1788 and immediately connected to Route 158 with roughly 18,700+ combined vehicles passing per day. The subject property is 6 miles from Wagner Noel performing arts center and 13 miles from downtown Midland. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is...

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Key Features

Freeway close
Top 100 MSA
Business growth area
Affluent AHHI $100K 5 Mi
Income tax free state
Population increase trend
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Midland, Texas Zip Code 79707 Broker Site Page

Maps

Local Information

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 :	492	2,781	4,411
2023 Total Population :	384	2,301	3,777
2023 Employed Civilian Pop :	262	1,482	2,354
2023 Total Businesses :	37	72	254
2023 Average Household Income :	$ 143,869	$ 134,154	$ 145,465
2023 Total Consumer Spending :	$ 17 M	$ 95 M	$ 163 M
2023 Median Age :	43	43	42
2023 Total Households :	144	821	1,298
2023 Pop Age 25+: Bachelor's Degree :	40	235	429
2023 Average Home Value :	$ 347,881	$ 394,850	$ 413,531

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Ranch Rd 1788	2021	7,358	0.69 mi
TX 360	W Co Rd 30	2020	6,236	0.69 mi
TX 360	FM 1788 S	2020	9,453	0.91 mi
	Hwy 349	2021	10,209	0.91 mi
TX 360	Ranch Rd 1788	2020	6,160	1.06 mi
E Goldenrod Dr	N Windswept Ave	2002	450	1.15 mi
	FM 1788 S	2021	6,314	1.18 mi
E Cottonwood Rd	Midway	2002	640	1.23 mi
N Loyola Ave	Cottonwood Rd	2012	580	1.54 mi
	Fx Radio	2021	7,260	1.77 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

180 Listings
18051 Views
100 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

181 Listings
18144 Views
101 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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