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Views: 70 Updated: 10.29.24 Posted: 06.25.24 Status: Inactive 10.29.24

Summary

Price $1,373,700
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 08-31-2023
#Units 19,986
Price/SF $129.11
Expiration 08-31-2038
Tenant Type Dollar/Discount
NOI $96,159
R. Term 13.8
Ownership Fee Simple
Rent/SF $9.04
Increases 10.0%/13/yrs
Pop 5Mi 2,480
Lot/AC 4.22
Options 5/5yrs/10%
AHHI 5Mi $50,152

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 | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on the hard corner intersection of Woodbridge Avenue and W 15 Mile Road, with access to a combined daily traffic count of 3,522 vehicles. The property is further enhanced by its prime location in an area with limited competition, as the nearest dollar store is 6 miles away. The immediate area is surrounded by well-known national tenants, including Dairy...

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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 : 102 835 1,657
2024 Total Population : 102 835 1,656
2024 Employed Civilian Pop : 36 325 602
2024 Total Businesses : 3 18 32
2024 Average Household Income : $ 65,299 $ 83,060 $ 74,351
2024 Total Consumer Spending : $ 1 M $ 27 M $ 50 M
2024 Median Age : 51 50 50
2024 Total Households : 33 366 751
2024 Pop Age 25+: Bachelor's Degree : 5 62 111
2024 Average Home Value : $ 184,483 $ 242,378 $ 232,230
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Woodbridge Avenue W 15 Mile Rd 2022 3,004 0.12 mi
Woodbridge Ave N Woodbridge Ave 2021 725 0.12 mi
West 15 Mile Road N Woodbridge Ave 2022 718 0.12 mi
N Woodbridge Ave W 15 Mile Rd 2015 2,400 0.45 mi
N Bingham Ave W 14 Mile Rd 2005 830 1.01 mi
West 14 Mile Road Porter Ave 2022 493 1.05 mi
W 14 Mile Rd N Harrison St 2005 700 1.10 mi
N Bingham Ave W 14 Mile Rd 2005 1,367 1.18 mi
W 14 Mile Rd N Woodbridge Ave 2005 1,285 1.26 mi
North Bingham Avenue W 13 Mile Rd 2022 987 2.01 mi

Listing Broker

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