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Views: 247 Updated: 10.29.24 Posted: 06.10.24 Status: Inactive 10.29.24

Summary

Price $2,011,308
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,480
Lease Start 04-11-2024
#Units 19,986
Price/SF $161.16
Expiration 04-30-2039
Tenant Type Dollar/Discount
NOI $133,752
R. Term 14.4
Ownership Fee Simple
Rent/SF $10.72
Increases 5.0%/5/yrs
Pop 5Mi 59,125
Lot/AC 1.70
Options 5/5yrs/5%
AHHI 5Mi $6,329

Lease Highlights

  • Brand new 2024 construction
  • Brand new 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term an option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located at the hard corner intersection of Old Highway 11 and South Lenoir Drive, with access to a combined daily traffic count of 9,750 vehicles. The property sits adjacent to Southern Bank and across the street from Family Dollar and South Lenoir High School. The 5-mile trade area is supported by a population of 6,329 residents with an average household...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 375 2,339 6,381
2024 Total Population : 378 2,361 6,492
2024 Employed Civilian Pop : 159 1,108 3,066
2024 Total Businesses : 15 38 99
2024 Average Household Income : $ 78,477 $ 77,368 $ 72,963
2024 Total Consumer Spending : $ 11 M $ 63 M $ 171 M
2024 Median Age : 40 41 41
2024 Total Households : 160 912 2,597
2024 Pop Age 25+: Bachelor's Degree : 45 204 460
2024 Average Home Value : $ 98,043 $ 115,422 $ 141,413
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Tulls Mill Road Hwy 11 S 2022 1,168 0.17 mi
John Green Smith Road Old Hwy 11 2022 993 0.31 mi
Liddell Rd Hwy 11 S 2019 7,600 0.36 mi
Old Highway 11 John Green Smith Rd 2022 591 0.40 mi
Hwy 11 S 2022 7,917 0.40 mi
Liddell Road Old Hwy 11 2022 710 0.44 mi
Liddell Road Liddell Rd 2022 734 0.47 mi
Old Highway 11 Evergreen Pl 2022 590 0.62 mi
Liddell Rd 2022 7,500 0.64 mi
Hwy 11 S Liddell Rd 2018 7,300 0.65 mi

Listing Broker

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