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Views: 72 DOM: 75 Updated: 09.12.24 Posted: 07.03.24 Status: Active

Summary

Price $2,279,459
Built/Renov 2024
Tenant Dollar General
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 09-11-2024
#Units 19,986
Price/SF $215.74
Expiration 09-30-2039
Tenant Type Dollar/Discount
NOI $142,496
R. Term 15.0
Ownership Fee Simple
Rent/SF $13.49
Increases 5.0%/5/yrs
Pop 5Mi 625
Lot/AC 2.65
Options 5/5yrs/5%
AHHI 5Mi $83,747

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 321st Avenue, with access to 1,059 vehicles passing daily. The property is conveniently situated near Mille Lacs Lake, Minnesota’s second-largest inland lake, renowned for its Walleye, Muskie, Northern Pike, and Smallmouth Bass fishing. Additionally, this location enjoys limited competition with the nearest grocery store more than 15 miles away. The...

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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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