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Views: 8 DOM: 5 Updated: 09.14.24 Posted: 09.14.24 Status: Active

Summary

Price $1,885,774
Built/Renov 2024
Tenant Dollar General Plus
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 10-14-2024
#Units 19,986
Price/SF $177.23
Expiration 10-31-2039
Tenant Type Dollar/Discount
NOI $125,404
R. Term 15.1
Ownership Fee Simple
Rent/SF $11.79
Increases 5.0%/5/yrs
Pop 5Mi 47,438
Lot/AC 1.36
Options 5/5yrs/5%
AHHI 5Mi $72,095

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental increases 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 M-139, with access to 11,831 vehicles passing by daily. The property is surrounded by prominent national tenants, including Aldi, Jo-Ann, The Home Depot, Lowe’s, Meijer, and more. Key educational institutions within a 4-mile radius include Benton Harbor High School, Benton Harbor Charter School Academy, and Lillie M. Evans Elementary School. The...

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Maps

  • 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,...


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Listing Broker

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