Dollar General

210 North Ridgewood Avenue, Edgewater, FL 32132

$2,033,096

Cap Rate 6.00%

Views: 136 Updated: 09.12.24 Posted: 02.25.24 Status: Inactive 10.08.24

Summary

Price $2,033,096	Built/Renov 2018	Tenant Dollar General
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 7,489	Lease Start 08-01-2018	#Units 19,986
Price/SF $271.48	Expiration 08-01-2033	Tenant Type Dollar/Discount
NOI $121,986	R. Term 8.8	Ownership Fee Simple
Rent/SF $16.29	Increases 10.0%/9/yrs	Pop 5Mi 56,009
Lot/AC 1.65	Options 4/5yrs/10%	AHHI 5Mi $74,516

Andrew Ackerman

Sands Investment Group

Contact

Lease Highlights

Dollar General has 8+ 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 is strategically located on Ridgewood Avenue, a 4-lane Highway, with access to 28,393 vehicles passing by daily. National tenants in the vicinity include McDonald's, AMC Theatres, Sherwin-Williams, Planet Fitness, and more. The 5-mile trade area is supported by a population of 56,009 residents with an average household income of $74,516. Edgewater is situated in Volusia County,...

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Key Features

Build to suit
Dense retail corridor
Strategically located
Highway location
Top 100 MSA
Income tax free state
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Edgewater, Florida Zip Code 32132 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 :	3,314	31,037	51,640
2023 Total Population :	3,428	31,178	51,867
2023 Employed Civilian Pop :	1,543	13,517	22,490
2023 Total Businesses :	297	1,964	2,634
2023 Average Household Income :	$ 63,929	$ 80,607	$ 84,215
2023 Total Consumer Spending :	$ 80 M	$ 1004 M	$ 1761 M
2023 Median Age :	50	53	55
2023 Total Households :	1,424	14,247	24,016
2023 Pop Age 25+: Bachelor's Degree :	326	4,019	7,205
2023 Average Home Value :	$ 330,119	$ 350,994	$ 355,040

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Ridgewood Avenue	Lamont St	2021	25,000	0.08 mi
N Ridgewood Ave	Pearl St	2008	28,000	0.09 mi
US 1	S Ridgewood Ave	2022	27,500	0.42 mi
W Park Ave	Flagler Ave	2008	7,850	0.44 mi
S Ridgewood Ave	New Hampshire St	2003	30,500	0.78 mi
10th St	Cypress St	2008	6,870	0.85 mi
South Riverside Drive	Mariann Ln	2022	2,200	0.88 mi
Magnolia Street	8th St	2022	730	1.01 mi
West Park Avenue	Dale Ave	2022	5,800	1.02 mi
South Riverside Drive	Donlon Dr	2022	2,100	1.06 mi

Listing Broker

Andrew Ackerman

Sands Investment Group

Contact

60 Listings
7895 Views
28 Sold

Andrew Ackerman

Andrew is a seasoned CRE professional with over 10 years experience and has closed over $500M in transaction volume over the course of his career. Andrew has a proven track record in brokerage as well team management which he’s done in several capacities since first joining Marcus & Millichap in 2005. Before joining SIG, Andrew was a top producing agent at Stan Johnson Company’s Atlanta office, he brokered the closing of a 16-store sale leaseback for $26M while receiving the company’s Mento

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