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Views: 244 DOM: 247 Updated: 07.18.24 Posted: 03.12.24 Status: Active

Summary

Price $1,029,030
Built/Renov 2016
Tenant Dollar General
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,100
Lease Start 08-29-2016
#Units 19,986
Price/SF $113.08
Expiration 08-31-2031
Tenant Type Dollar/Discount
NOI $79,750
R. Term 6.9
Ownership Fee Simple
Rent/SF $8.76
Increases 10.0%/7/yrs
Pop 5Mi 2,248
Lot/AC 1.08
Options 5/5yrs/10%
AHHI 5Mi $80,379

Lease Highlights

  • Dollar General has 7+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on Pleasant Avenue W, with access to 5,618 vehicles passing by daily. This prime location is further enhanced by the nearest Dollar General being 12 miles away. Additionally, the property is within close proximity to Diamond Lake, Island Pine Golf Club, and Kingery Field. The 5-mile trade area boasts a population of 2,248 residents with an average...

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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 : 1,101 1,366 2,179
2023 Total Population : 1,123 1,392 2,221
2023 Employed Civilian Pop : 527 658 1,072
2023 Total Businesses : 53 65 84
2023 Average Household Income : $ 73,280 $ 76,102 $ 85,479
2023 Total Consumer Spending : $ 30 M $ 37 M $ 68 M
2023 Median Age : 40 41 43
2023 Total Households : 463 554 897
2023 Pop Age 25+: Bachelor's Degree : 131 162 264
2023 Average Home Value : $ 170,000 $ 194,438 $ 275,171
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Atlantic Ave 4th St N 2018 510 0.23 mi
Atlantic Avenue 3rd St N 2022 510 0.25 mi
3rd Street North Minnesota Ave 2022 1,343 0.25 mi
2nd Street North Minnesota Ave 2022 260 0.30 mi
Atlantic Avenue 2nd St N 2018 475 0.34 mi
Main Street North Atlantic Ave 2022 1,600 0.41 mi
Main St N Main St S 2006 1,650 0.42 mi
Main St S Dakota Ave E 2006 1,900 0.50 mi
Main St N 195th St NE 2006 1,100 0.51 mi
195th St NE Main St N 2018 1,450 0.62 mi

Listing Broker

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