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Views: 136 DOM: 111 Updated: 08.23.24 Posted: 06.07.24 Status: Sold 09.26.24

Summary

Price $1,875,000 $1,943,000
Built/Renov 2024
Tenant Dollar General Plus
Cap Rate 6.84% 6.60%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,542
Lease Start 05-15-2024
#Units 19,986
Price/SF $177.86 $184.31
Expiration 05-31-2039
Tenant Type Dollar/Discount
NOI $128,220
R. Term 14.5
Ownership Fee Simple
Rent/SF $12.16
Increases 5.0%/5/yrs
Pop 5Mi 29,525
Lot/AC 2.06
Options 5/5yrs/5%
AHHI 5Mi $72,429

Lease Highlights

  • Brand-new 2024 BTS Plus construction
  • Brand-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 | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on New Prospect Church Road (10,400 VPD), across from Deer Brook Golf Club. The immediate area is surrounded by well-known national tenants, including Aldi, KFC, Lowe's, Walgreens, Hardee's, and more. The 5-mile trade area is supported by a population of 29,525 residents with an average household income of $72,429. Shelby is a city in and the county seat...

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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 : 1,399 10,995 31,382
2024 Total Population : 1,401 11,090 31,449
2024 Employed Civilian Pop : 636 4,854 13,685
2024 Total Businesses : 36 401 1,580
2024 Average Household Income : $ 78,369 $ 78,173 $ 79,121
2024 Total Consumer Spending : $ 44 M $ 341 M $ 921 M
2024 Median Age : 46 46 44
2024 Total Households : 638 4,862 12,987
2024 Pop Age 25+: Bachelor's Degree : 194 1,336 3,447
2024 Average Home Value : $ 288,561 $ 317,061 $ 306,413
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
New Prospect Church Road Timberlake Dr 2022 1,347 0.02 mi
New Prospect Church Road N Post Rd 2022 1,420 0.13 mi
Hopewell Church Road Fallston Rd 2022 152 0.46 mi
Botts Road Fallston Rd 2022 241 0.69 mi
Airport Road Foust Rd 2022 1,585 0.74 mi
Fallston Road Bellview Dr 2022 6,196 0.78 mi
North Post Road Arlee Dr 2022 5,756 0.80 mi
Airport Rd N Crescent Cir 2004 1,400 0.83 mi
Fallston Road E Zion Church Rd 2022 11,031 0.92 mi
Fallston Rd 2022 291 1.10 mi

Listing Broker

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