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Views: 24 DOM: 20 Updated: 09.16.24 Posted: 08.27.24 Status: Active

Summary

Price $2,500,000
Built/Renov 2023
Tenant Dollar General Plus
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 10-09-2023
#Units 19,986
Price/SF $234.96
Expiration 10-08-2038
Tenant Type Dollar/Discount
NOI $166,248
R. Term 14.0
Ownership Fee Simple
Rent/SF $15.62
Increases 10.0%/13/yrs
Pop 5Mi 16,111
Lot/AC 1.09
Options 3/5yrs/10%
AHHI 5Mi $63,441

Lease Highlights

  • Brand new 2024 construction
  • Dollar General has 13+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on Gardner Field Road, with access to 2,045 vehicles passing by daily. The property is situated 1.5 miles from Taft College, which serves 5,700 students, and is in close proximity to the Midway Sunset Oilfield, a major economic driver in the region. It is just east of Los Padres National Forest, attracting 1.8 million visitors annually, making it one of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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 : 5,199 17,498 18,566
2023 Total Population : 5,050 16,556 17,628
2023 Employed Civilian Pop : 1,336 5,428 5,533
2023 Total Businesses : 151 411 427
2023 Average Household Income : $ 57,299 $ 65,240 $ 65,395
2023 Total Consumer Spending : $ 73 M $ 294 M $ 297 M
2023 Median Age : 32 32 33
2023 Total Households : 1,458 5,110 5,138
2023 Pop Age 25+: Bachelor's Degree : 140 570 573
2023 Average Home Value : $ 243,573 $ 273,626 $ 273,275
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Gardner Field Rd Enterprise Way 2017 1,581 0.03 mi
CA 33 Gardner Field Rd 2021 3,875 0.24 mi
33 2018 2,250 0.24 mi
W Side Hwy Gardner Field Rd 2017 2,400 0.26 mi
Taft Hwy Airport Rd 2017 5,200 0.26 mi
Airport Rd Garratt St 2017 754 0.32 mi
W Side Hwy Taft Hwy 2017 6,200 0.34 mi
CA 119 Airport Rd 2021 5,300 0.35 mi
Adkisson Way W Side Hwy 2017 5,700 0.36 mi
Petroleum Club Rd Seven Sisters Rd 2017 611 0.42 mi

Listing Broker

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