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Views: 139 DOM: 477 Updated: 11.05.24 Posted: 09.02.23 Status: Active

Summary

Price $1,149,000
Built/Renov 2009
Tenant Dollar General
Cap Rate 6.85%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,014
Lease Start 12-01-2009
#Units 19,986
Price/SF $127.47
Expiration 11-30-2029
Tenant Type Dollar/Discount
NOI $78,726
R. Term 4.11
Ownership Fee Simple
Rent/SF $8.73
Increases 0.0%/0/yrs
Pop 5Mi 10,520
Lot/AC 1.43
Options 3/5yrs
AHHI 5Mi $98,071

Lease Highlights

  • Dollar General has an extensive historical occupancy, having operated at the site for 14 years
  • The tenant recently extended their lease through November 2029
  • The lease features scheduled rental increases at the beginning of each 3 (5-year) option periods (Opt. 1: $9.61 PSF, Opt. 2: $10.24 PSF, Opt. 3: $11.62 PSF)
  • Corporate guaranteed lease
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

Dollar General is strategically located at the hard corner intersection of Lake Park Drive (State Hwy 161), and Drive In Road with clear visibility and access to 5,900 vehicles passing by daily. Lake Park Drive is the main commuter route for the town and provides direct access to neighboring towns. The site benefits from limited competition as it is among the very few variety stores in the...

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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 : 870 2,026 10,483
2023 Total Population : 840 1,972 10,520
2023 Employed Civilian Pop : 420 1,001 5,464
2023 Total Businesses : 49 65 445
2023 Average Household Income : $ 94,573 $ 96,767 $ 98,071
2023 Total Consumer Spending : $ 29 M $ 64 M $ 349 M
2023 Median Age : 42 41 40
2023 Total Households : 354 768 4,079
2023 Pop Age 25+: Bachelor's Degree : 128 289 1,342
2023 Average Home Value : $ 187,543 $ 191,405 $ 194,593
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lake Park Dr Dr in Rd 2011 4,800 0.10 mi
Lake Park Dr Leo St 2009 4,450 0.41 mi
Sycamore St Leo St 2010 1,100 0.44 mi
Green St Church St 2010 325 0.54 mi
IL 161 Leo St 2021 4,550 0.65 mi
Drive in Rd Wesclin Rd 2010 700 0.67 mi
Prairie St Main St 2010 125 0.72 mi
Sycamore St Prairie St 2010 1,100 0.74 mi
Munster St Sycamore St 2010 1,150 0.78 mi
Munster St Clinton St 2010 600 0.80 mi

Listing Broker

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