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Views: 158 Updated: 10.29.24 Posted: 06.25.24 Status: Inactive 10.29.24

Summary

Price $1,437,643
Built/Renov 2023
Tenant Dollar General Plus
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 09-21-2023
#Units 19,986
Price/SF $135.12
Expiration 09-30-2038
Tenant Type Dollar/Discount
NOI $100,635
R. Term 13.9
Ownership Fee Simple
Rent/SF $9.46
Increases 10.0%/13/yrs
Pop 5Mi 5,641
Lot/AC 1.61
Options 5/5yrs/10%
AHHI 5Mi $73,353

Lease Highlights

  • 2023 BTS Plus Size Construction
  • Dollar General has 14+ years remaining on the current lease term with 5 (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 M-86, with access to 3,768 vehicles passing by daily. The property is further enhanced by limited competition in the area. Additionally, the immediate area is surrounded by well-known national tenants, including Walmart, Meijer, NAPA Auto Parts, O'Reilly Auto Parts, Tractor Supply Co, and more. The 5-mile trade area is supported by a population of...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 347 2,170 5,780
2024 Total Population : 356 2,226 5,934
2024 Employed Civilian Pop : 172 1,028 2,647
2024 Total Businesses : 16 65 228
2024 Average Household Income : $ 119,965 $ 110,478 $ 91,865
2024 Total Consumer Spending : $ 14 M $ 73 M $ 170 M
2024 Median Age : 47 44 42
2024 Total Households : 138 765 2,083
2024 Pop Age 25+: Bachelor's Degree : 51 234 461
2024 Average Home Value : $ 370,400 $ 336,684 $ 289,656
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Nottawa Road Lantern Cir 2022 1,218 0.78 mi
State Highway 86 State Hwy 66 2022 3,644 1.68 mi
State Highway 66 Marvin Rd 2022 5,797 1.81 mi
Nottawa Road Wasepi Rd 2022 1,325 1.85 mi
State Hwy 66 Hwy 86 2015 5,500 1.87 mi
Sauger Lake Road Swan Bay Dr 2022 1,195 2.13 mi
Sauger Lake Road 2019 938 2.95 mi
Sauger Lake Road Hunter's Point Dr 2022 880 2.95 mi

Listing Broker

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