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Views: 89 DOM: 179 Updated: 10.30.24 Posted: 06.25.24 Status: Active

Summary

Price $1,643,083
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 06-15-2024
#Units 19,986
Price/SF $154.43
Expiration 06-30-2039
Tenant Type Dollar/Discount
NOI $109,265
R. Term 14.6
Ownership Fee Simple
Rent/SF $10.27
Increases 5.0%/5/yrs
Pop 5Mi 35,229
Lot/AC 2.55
Options 5/5yrs/5%
AHHI 5Mi $58,415

Lease Highlights

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

Location Description

Dollar General Market is strategically located at the hard corner intersection of Territorial Road and Wells Ave, with access to 4,828 vehicles passing by per day. The property is further enhanced by limited competition in the area. The 5-mile trade area is supported by a population of 35,229 residents with an average household income of $58,415. Benton Harbor is a city in Berrien County,...

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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
2029 Total Population : 1,700 14,613 34,160
2024 Total Population : 1,764 14,911 34,781
2024 Employed Civilian Pop : 711 5,876 15,707
2024 Total Businesses : 44 589 1,736
2024 Average Household Income : $ 45,439 $ 51,708 $ 74,555
2024 Total Consumer Spending : $ 28 M $ 270 M $ 998 M
2024 Median Age : 36 35 40
2024 Total Households : 705 5,779 14,942
2024 Pop Age 25+: Bachelor's Degree : 74 837 3,563
2024 Average Home Value : $ 163,684 $ 230,674 $ 271,055
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Euclid Ave 2022 5,676 0.35 mi
BL I 94 Clinton Rd 2022 3,744 0.39 mi
I 94 BL Baldwin Ave 2021 3,689 0.41 mi
I 94 BL Vernon Rd 2021 2,266 0.53 mi
I-94 ON RAMP Vernon Rd 2020 796 0.53 mi
BL I 94 Highland Ave 2022 1,810 0.54 mi
Red Arrow Hwy Butler Rd 2021 4,026 0.55 mi
North Euclid Avenue Irving Dr 2022 4,018 0.55 mi
US 31 I- 94 2022 5,309 0.59 mi
I- 94 Bus Lp N Euclid Ave 2015 4,200 0.62 mi

Listing Broker

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