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Views: 70 DOM: 110 Updated: 08.23.24 Posted: 05.21.24 Status: Active

Summary

Price $1,583,000
Built/Renov 2014
Tenant Dollar General Market
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,406
Lease Start 03-01-2014
#Units 19,986
Price/SF $127.60
Expiration 02-28-2029
Tenant Type Dollar/Discount
NOI $118,697
R. Term 4.5
Ownership Fee Simple
Rent/SF $9.57
Increases 10.0%/5/yrs
Pop 5Mi 3,441
Lot/AC 1.31
Options 4/5yrs/10%
AHHI 5Mi $55,602

Lease Highlights

  • Relocation Store | Fully remodeled by Dollar General Corporate in 2021
  • The tenant has 4+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located along North 9th Street, the towns main corridor. Neighboring national/credit tenants in the area include Sonic, Subway, and Pizza Hut. The 5-mile trade area is supported by 3,441 residents earning an average annual income of $55,602. Osage City is the metropolis of Osage County in Kansas, with an estimated population of 2,800 within the city’s...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General Market
  • 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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