Dollar General

115 North 2nd Avenue, Mayodan, NC 27027

$988,800

Cap Rate 8.25%

Views: 104 DOM: 206 Updated: 09.27.24 Posted: 04.30.24 Status: Active

Summary

Price $988,800	Built/Renov 2011	Tenant Dollar General
Cap Rate 8.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 9,100	Lease Start 03-01-2011	#Units 19,986
Price/SF $108.66	Expiration 03-31-2026	Tenant Type Dollar/Discount
NOI $81,576	R. Term 1.4	Ownership Fee Simple
Rent/SF $8.96	Increases 10.0%/2/yrs	Pop 5Mi 13,166
Lot/AC 0.71	Options 5/5yrs/10%	AHHI 5Mi $55,280

Robby Pfeiffer

Marcus & Millichap

Contact

Lease Highlights

Dollar General has 1+ years remaining on the current lease term with 5 (5-year) options to extend
The lease features 10% rental increases at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on North 2nd Avenue, with access to 5,600 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walmart, Lowe’s, AutoZone, Food Lion, Tractor Supply, and more. Additionally, there are nearby educational institutions and housing complexes such as Mountain Villa Apartments, Ridgemont Place Apartments, Western...

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Key Features

Build to suit
In location for years
Dense retail corridor
Near major nationals
Highway close
Long operation history
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Mayodan, North Carolina Zip Code 27027 Broker Site Page

Maps

Local Information

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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,443	6,543	12,010
2023 Total Population :	2,521	6,737	12,344
2023 Employed Civilian Pop :	982	2,849	5,590
2023 Total Businesses :	98	391	504
2023 Average Household Income :	$ 54,062	$ 59,366	$ 65,028
2023 Total Consumer Spending :	$ 59 M	$ 165 M	$ 311 M
2023 Median Age :	46	48	46
2023 Total Households :	1,240	3,127	5,394
2023 Pop Age 25+: Bachelor's Degree :	174	479	937
2023 Average Home Value :	$ 164,527	$ 164,564	$ 170,101

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
1305	S 2nd Ave	2022	2,280	0.08 mi
S 2nd Ave	N 2nd Ave	2004	6,100	0.10 mi
North 2nd Avenue	E Jackson St	2022	3,346	0.18 mi
US 220 Business	E Adams St	2022	4,749	0.18 mi
West Washington Street	S 2nd Ave	2022	2,388	0.23 mi
South 2nd Avenue	W Washington St	2022	10,766	0.26 mi
	S 2nd Ave	2022	7,920	0.40 mi
West Washington Street	S Ayersville Rd	2022	2,138	0.47 mi
West Main Street	N 10th Ave	2022	2,327	0.56 mi
North 2nd Avenue	Utility St	2022	3,048	0.59 mi

Listing Broker

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