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Views: 112 DOM: 273 Updated: 10.30.24 Posted: 02.22.24 Status: Active 09.13.24

Summary

Price $1,331,834
Built/Renov 2020
Tenant Dollar General
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,214
Lease Start 03-28-2019
#Units 19,986
Price/SF $144.54
Expiration 03-31-2034
Tenant Type Dollar/Discount
NOI $96,558
R. Term 9.4
Ownership Fee Simple
Rent/SF $10.48
Increases 10.0%/10/yrs
Pop 5Mi 3,710
Lot/AC 1.66
Options 4/5yrs/10%
AHHI 5Mi $69,531

Lease Highlights

  • Dollar General has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on S 2nd Street, with access to 10,150 vehicles passing by daily. The property is located immediately adjacent to Family Dollar and neighboring the Ripley Union Lewis Huntington School District. This prime location is further enhanced by limited competition in the area. The 5-mile trade area is supported by a population of 3,710 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 : 1,442 2,668 3,942
2023 Total Population : 1,430 2,662 3,935
2023 Employed Civilian Pop : 671 1,241 1,781
2023 Total Businesses : 57 76 96
2023 Average Household Income : $ 68,322 $ 73,024 $ 74,238
2023 Total Consumer Spending : $ 39 M $ 77 M $ 109 M
2023 Median Age : 46 45 46
2023 Total Households : 649 1,192 1,651
2023 Pop Age 25+: Bachelor's Degree : 149 268 411
2023 Average Home Value : $ 177,008 $ 186,480 $ 198,344
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S 2nd St Grove St 2002 10,340 0.15 mi
South 2nd Street Assumption St 2021 8,636 0.23 mi
S 2nd St Governor St 2012 9,046 0.26 mi
US 62;US 68 Cir Dr 2021 5,123 0.38 mi
South 2nd Street St John St 2021 4,909 0.41 mi
S 2nd St Cherry St 2012 6,020 0.55 mi
North Lower 2nd Street Rankin Hill Rd 2021 3,091 0.67 mi
S 2nd St Kevin Dr 2008 6,460 0.83 mi
N 2nd St Rankin Hill Rd 2012 3,310 0.86 mi
Tuckahoe Rd Mary Ingles Hwy 2001 735 1.06 mi

Listing Broker

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