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Views: 146 DOM: 469 Updated: 11.14.24 Posted: 08.10.23 Status: Contract

Summary

Price $1,303,600
Built/Renov 2022
Tenant Dollar General
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 11-01-2022
#Units 19,986
Price/SF $122.52
Expiration 11-01-2037
Tenant Type Dollar/Discount
NOI $94,508
R. Term 12.11
Ownership Fee Simple
Rent/SF $8.88
Increases 10.0%/14/yrs
Pop 5Mi 17,214
Lot/AC 2.00
Options 3/5yrs/10%
AHHI 5Mi $66,232

Lease Highlights

  • 2022 construction featuring state of the art materials, high-level finishes, and distinct Dollar General design elements
  • Tenant recently signed a new 15-year lease with 2 (5-year) & 1 (4-year 11 months) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Dollar General is an investment grade tenant (S&P: BBB)
  • Corporate guaranteed lease

Location Description

This newly constructed Dollar General is strategically fronting Washington Avenue (State Hwy 830) with clear visibility and access to 8,800 vehicles passing by daily. The asset has excellent visibility via street frontage providing ease and convenience for customers. This location features Dollar General’s newest prototype and benefits from limited competition as this is one of two discount...

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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 : 1,253 6,314 16,882
2023 Total Population : 1,228 6,370 17,149
2023 Employed Civilian Pop : 593 3,161 8,005
2023 Total Businesses : 35 267 1,045
2023 Average Household Income : $ 63,310 $ 67,267 $ 74,740
2023 Total Consumer Spending : $ 31 M $ 160 M $ 493 M
2023 Median Age : 47 45 45
2023 Total Households : 557 2,714 7,526
2023 Pop Age 25+: Bachelor's Degree : 125 736 2,293
2023 Average Home Value : $ 112,350 $ 147,934 $ 183,044
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Washington Ave Preston Way 2017 2,242 0.13 mi
Main Street 4th St 2019 2,251 0.28 mi
6th St 2021 313 0.32 mi
Airport Rd 2019 14,485 0.43 mi
Airport Road Perrin Dr 2021 2,342 0.47 mi
Smithtown Rd Hill St 2017 249 0.48 mi
Main Street N Main St 2021 6,840 0.51 mi
3rd Street Reynoldsville Falls Creek Rd 2021 2,558 0.52 mi
3rd St Ridge Ave 2017 1,813 0.52 mi
Smithtown Road Gunboat Rd 2021 313 0.83 mi

Listing Broker

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