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Views: 145 DOM: 179 Updated: 12.11.24 Posted: 01.31.24 Status: Sold 07.29.24

Summary

Price $2,015,000 $2,150,000
Built/Renov 2018
Tenant Dollar General
Cap Rate 6.92% 6.49%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,500
Lease Start 06-15-2018
#Units 19,986
Price/SF $268.67 $286.67
Expiration 06-14-2033
Tenant Type Dollar/Discount
NOI $139,500
R. Term 8.5
Ownership Fee Simple
Rent/SF $18.60
Increases 10.0%/9/yrs
Pop 5Mi 214,596
Lot/AC 3.01
Options 3/5yrs/10%
AHHI 5Mi $88,195

Lease Highlights

  • Dollar General has 9+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Corporate guarantee (NYSE: DG)
  • Investment grade tenant (S&P: BBB)

Location Description

Dollar General is strategically located on South Broad Street, with access to 20,042 vehicles passing by daily. It is immediately adjacent to I-295 and next door to Independence Plaza, a 275,000 SF shopping center anchored by Regal Cinemas, Dollar Tree, and Ollie's Bargain Outlet. There are more national retailers in the area, including McDonald's, Bank of America, Wendy's, and others. 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 13,015 117,735 231,305
2023 Total Population : 13,206 118,602 232,739
2023 Employed Civilian Pop : 7,225 56,772 112,237
2023 Total Businesses : 305 2,803 7,487
2023 Average Household Income : $ 93,837 $ 87,098 $ 99,457
2023 Total Consumer Spending : $ 397 M $ 3207 M $ 7332 M
2023 Median Age : 41 38 39
2023 Total Households : 4,955 42,516 85,703
2023 Pop Age 25+: Bachelor's Degree : 1,703 13,341 32,653
2023 Average Home Value : $ 262,753 $ 277,319 $ 311,396
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Broad St I-295 2011 20,428 0.04 mi
South Broad Street Beech Ave 2019 19,261 0.08 mi
S. Broad Street Beech Ave 2018 19,341 0.10 mi
Independence Ave I- 295 2018 69,708 0.14 mi
S Broad St Alley 116 2010 19,798 0.18 mi
South Clinton Avenue Irvington Pl 2018 6,869 0.21 mi
I-295 Exton Ave 2002 37,634 0.25 mi
I-295 Independence Ave 2011 72,158 0.28 mi
Independence Avenue I-295 2019 1,864 0.29 mi
Independence Ave Harcourt Dr 2017 1,630 0.31 mi

Listing Broker

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