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Views: 81 DOM: 135 Updated: 11.02.24 Posted: 07.09.24 Status: Active

Summary

Price $2,172,231
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,480
Lease Start 12-15-2024
#Units 19,986
Price/SF $174.06
Expiration 12-14-2039
Tenant Type Dollar/Discount
NOI $141,195
R. Term 15.0
Ownership Fee Simple
Rent/SF $11.31
Increases 5.0%/5/yrs
Pop 5Mi 47,163
Lot/AC 1.95
Options 5/5yrs/5%
AHHI 5Mi $59,625

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rental escalations 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 signalized, hard corner intersection of 37th Avenue and Montgomery Street, with access to a combined daily traffic count of 19,800 vehicles. The property is positioned within proximity to two major Interstates, I-65 (110,000 VPD) and I-94 (169,800 VPD). Additionally, it benefits from the lack of grocery competition that serves the...

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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 supplies,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,082 52,402 122,265
2024 Total Population : 4,206 52,335 122,966
2024 Employed Civilian Pop : 1,925 20,875 49,339
2024 Total Businesses : 85 1,321 3,326
2024 Average Household Income : $ 58,946 $ 64,556 $ 67,338
2024 Total Consumer Spending : $ 82 M $ 1187 M $ 2997 M
2024 Median Age : 37 38 39
2024 Total Households : 1,552 20,612 49,905
2024 Pop Age 25+: Bachelor's Degree : 137 3,665 9,938
2024 Average Home Value : $ 218,513 $ 199,581 $ 212,593
*ESRI data is presented for informational purposes only

Listing Broker

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