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Views: 132 Updated: 08.05.24 Posted: 09.02.23 Status: Inactive 09.16.24

Summary

Price $1,720,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 12,688
Lease Start 10-01-2023
#Units 19,294
Price/SF $135.56
Expiration 09-30-2038
Tenant Type Dollar/Discount
NOI $117,789
R. Term 13.9
Ownership Fee Simple
Rent/SF $9.28
Increases 10.0%/15/yrs
Pop 5Mi 4,217
Lot/AC 1.93
Options 3/5yrs/10%
AHHI 5Mi $61,666

Lease Highlights

  • New construction scheduled to open in Q4 2023, will feature a state-of-the art design using the highest-grade materials available
  • The tenant recently signed a brand new 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

This newly constructed Dollar General Market is strategically located along US Highway 54 with clear visibility and access to an average of 6,400 vehicles passing by daily. US Highway 54 is the main retail corridor in the town, making this a centralized location with easy commutes for employees and customers. There are 2 Dollar General stores within the city limits of Vandalia; however, the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dolgencorp, LLC
  • 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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Utterback St E Park St 2019 2,279 0.25 mi
US Hwy 54 N Vine St 2018 3,482 0.77 mi
US Hwy 54 N Vine St 2019 6,403 0.77 mi
Hwy V Audrain Rd 581 2019 514 1.27 mi
State Highway V Audrain Rd 581 2018 266 1.27 mi
State Hwy F Hummingbird Ln 2014 1,391 1.38 mi
Highway W 2005 900 1.95 mi
US Hwy 54 Longspur Rd 2019 4,417 2.02 mi
State Highway P Audrain Rd549 2018 284 2.42 mi
State Highway V Pike 450 2018 72 2.49 mi

Listing Broker

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