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Views: 117 Updated: 04.22.24 Posted: 11.02.23 Status: Inactive 03.01.24

Summary

Price $1,865,000
Built/Renov 2023
Tenant Dollar General Market
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,687
Lease Start 11-01-2023
#Units 19,294
Price/SF $147.00
Expiration 10-31-2038
Tenant Type Dollar/Discount
NOI $116,496
R. Term 14.1
Ownership Fee Simple
Rent/SF $9.18
Increases 10.0%/15/yrs
Pop 5Mi 3,498
Lot/AC 4.31
Options 5/5yrs/10%
AHHI 5Mi $48,692

Lease Highlights

  • 2023 build-to-suit construction for Dollar General
  • New 15-year absolute NNN lease | Zero landlord responsibilities
  • The lease features 5 (5-year) options with 10% increases
  • Priced significantly below replacement cost at only $153 PSF and low rent of approximately $9 PSF
  • Corporate guarantee | Investment grade tenant (S&P: BBB)

Location Description

This newly constructed Dollar General Market is strategically located along S Bend Drive and recently relocated to this site to feature the store's latest prototype. The subject property is positioned in a popular tourist destination and serves as the main retailer serving the lake community. Crown Lake Resort consists of 640 acres with fishing, kayaking, swimming, tubing, and more as well as...

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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:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 686 2,545 3,569
2023 Total Population : 694 2,576 3,603
2023 Employed Civilian Pop : 192 657 977
2023 Total Businesses : 55 77 90
2023 Average Household Income : $ 56,435 $ 52,571 $ 53,280
2023 Total Consumer Spending : $ 14 M $ 53 M $ 75 M
2023 Median Age : 65 64 62
2023 Total Households : 291 1,157 1,606
2023 Pop Age 25+: Bachelor's Degree : 62 208 272
2023 Average Home Value : $ 188,188 $ 164,559 $ 166,457
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Bend Drive W Church St 2021 1,300 0.07 mi
289 W Church St 2020 1,200 0.07 mi
West Church Street Market St 2021 1,300 0.28 mi
Market Street 2nd St 2021 400 0.49 mi
Airpark Road Birdie Dr 2021 320 0.54 mi
East Tri Lakes Drive W Tri Lakes Dr 2021 440 0.63 mi
Club Road S Bend Dr 2021 690 1.28 mi
Cardinal Drive Business St 2021 1,400 2.02 mi
West Cardinal Drive Polo Ln 2021 710 2.05 mi
East Tri Lakes Drive Fox Pt 2021 140 2.16 mi

Listing Broker

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