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Views: 96 DOM: 161 Updated: 09.10.24 Posted: 06.13.24 Status: Active

Summary

Price $1,995,000
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,480
Lease Start 12-04-2023
#Units 19,986
Price/SF $159.86
Expiration 12-31-2038
Tenant Type Dollar/Discount
NOI $134,656
R. Term 14.1
Ownership Fee Simple
Rent/SF $10.79
Increases 10.0%/14/yrs
Pop 5Mi 6,517
Lot/AC 4.10
Options 5/5yrs/10%
AHHI 5Mi $67,460

Lease Highlights

  • Brand new 2024 constrution
  • Dollar General Market has 14+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% renal escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located on West Main Street, with access to 7,300 vehicles passing by daily. The property is surrounded by well-known national tenants such as Subway, NAPA Auto Parts, Shell, McDonald's, Tractor Supply Co, and more. The 5-mile trade area is supported by a population of 6,517 residents with an average household income of $67,460. Stockbridge is a village...

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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:19,986
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

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 : 1,483 3,203 5,802
2024 Total Population : 1,468 3,227 5,840
2024 Employed Civilian Pop : 708 1,581 2,843
2024 Total Businesses : 75 121 149
2024 Average Household Income : $ 79,234 $ 90,674 $ 95,264
2024 Total Consumer Spending : $ 43 M $ 101 M $ 184 M
2024 Median Age : 43 43 44
2024 Total Households : 613 1,268 2,200
2024 Pop Age 25+: Bachelor's Degree : 184 398 713
2024 Average Home Value : $ 268,018 $ 287,072 $ 300,292
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Main St Mills Ave 2015 7,200 0.11 mi
M 52 2021 6,231 0.13 mi
West Main Street Morton Rd 2022 6,216 0.13 mi
Morton Road 2019 388 0.30 mi
Stockbridge Rd Adams Rd 2021 374 0.31 mi
Morton Road Morton Rd 2022 1,338 0.31 mi
E Elizabeth St 2022 921 0.39 mi
S M 106 S Clinton St 2021 930 0.39 mi
M 52;M 106 E Main St 2022 7,664 0.39 mi
M-52 M-106 E Main St 2020 6,946 0.39 mi

Listing Broker

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