Dollar General

Highway 321, Lenoir City, TN 37772

$2,220,000

Cap Rate 6.50%

Views: 21 DOM: 20 Updated: 08.28.24 Posted: 08.27.24 Status: Active

Summary

Price $2,220,000	Built/Renov 2024	Tenant Dollar General
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,640	Lease Start 09-01-2024	#Units 19,986
Price/SF $208.65	Expiration 08-31-2039	Tenant Type Dollar/Discount
NOI $144,316	R. Term 14.11	Ownership Fee Simple
Rent/SF $13.56	Increases 5.0%/5/yrs	Pop 5Mi 24,356
Lot/AC 1.25	Options 5/5yrs/5%	AHHI 5Mi $93,268

Phil Sambazis

Marcus & Millichap

Contact

Lease Highlights

Brand new 2024 construction
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 lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on Highway 321, a major east/west artery with access to 15,139 vehicles passing by daily. The property is just minutes from Pellissippi State Community College, and is in close proximity to the Great Smoky Mountains, attracting over 14 million visitors annually. It is also positioned north of Nantahala National Forest, which sees more than 2.5 million...

...

Key Features

New construction
Strategically located
Highway location
Top 100 MSA
Affluent suburb location
Income tax free state
Brand new lease
Long 15+ yr lease
Traded and rated company
Investment grade tenant

...

Links

Dollar General Wikipedia Dollar General Wikipedia Lenoir City, Tennessee Zip Code 37772 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dollar General
Guarantor:Corp T and Rated
Company:Dollar General Corporation
# 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,...

...

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT