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Views: 81 DOM: 232 Updated: 08.06.24 Posted: 01.20.24 Status: Active

Summary

Price $1,798,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 11-01-2023
#Units 19,986
Price/SF $168.98
Expiration 11-01-2038
Tenant Type Dollar/Discount
NOI $121,344
R. Term 14.1
Ownership Fee Simple
Rent/SF $11.40
Increases 10.0%/14/yrs
Pop 5Mi 4,560
Lot/AC 2.20
Options 5/5yrs/10%
AHHI 5Mi $67,571

Lease Highlights

  • 2023 construction featuring state of the art materials, high-level finishes, and distinct Dollar General design elements
  • Dollar General recently signed a new 15-year lease with 5 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located along Ocean Highway S, a major commuter highway that sees over 13,000 vehicles per day. The property is positioned on the hard corner intersection of Ocean Highway S and State Highway 37 (17,000 VPD). The asset benefits from excellent visibility and access via significant street and a large pylon sign, providing ease and convenience for customers. This...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 160 896 4,537
2023 Total Population : 158 900 4,560
2023 Employed Civilian Pop : 84 404 1,732
2023 Total Businesses : 6 26 316
2023 Average Household Income : $ 71,405 $ 74,546 $ 67,571
2023 Total Consumer Spending : $ 5 M $ 26 M $ 122 M
2023 Median Age : 53 51 46
2023 Total Households : 80 391 2,029
2023 Pop Age 25+: Bachelor's Degree : 5 67 450
2023 Average Home Value : $ 237,302 $ 214,706 $ 277,362
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 37 Mill Dr 2019 3,300 0.09 mi
Mill Dr 2021 3,300 0.10 mi
Ocean Hwy S Hwy 37 2018 10,500 0.17 mi
Ocean Hwy S Davenports Ln 2004 9,800 0.20 mi
Ocean Hwy S Long Ln 2004 12,000 0.22 mi
US 17/NC 37 Long Ln 2020 11,500 0.38 mi
Davenports Ln 2021 13,000 0.43 mi
Haughton Road Thick Neck Rd 2021 2,500 0.64 mi
Burnt Mill Rd Yeopim Rd 2004 490 1.33 mi
Yeopim Rd Burnt Mill Rd 2004 620 1.36 mi

Listing Broker

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