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Views: 81 Updated: 03.27.24 Posted: 08.15.23 Status: Inactive 03.27.24

Summary

Price $2,061,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 09-01-2023
#Units 19,294
Price/SF $193.70
Expiration 09-01-2038
Tenant Type Dollar/Discount
NOI $128,843
R. Term 14.3
Ownership Fee Simple
Rent/SF $12.11
Increases 10.0%/15/yrs
Pop 5Mi 17,167
Lot/AC 2.18
Options 5/5yrs/10%
AHHI 5Mi $98,229

Lease Highlights

  • Brand new 2023 construction
  • Dollar General recently signed a brand new 15-year lease with 5 (5-year) options to extend
  • Lease features a 10% rental increase at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)

Location Description

This newly constructed Dollar General is strategically located along Highway 460 (Cox Road) seeing 16,000 vehicles per day. The site is directly across from a 3 million+ SF Walmart Distribution Center with over 1,500 employees, providing a direct consumer base for the site to draw from. Neighboring national/credit tenants in the area include Subway, Aldi, McDonalds, O’Reilly Auto Parts, Taco...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 467 2,897 13,053
2023 Total Population : 458 2,846 12,893
2023 Employed Civilian Pop : 213 1,332 6,090
2023 Total Businesses : 7 54 213
2023 Average Household Income : $ 122,870 $ 114,491 $ 101,951
2023 Total Consumer Spending : $ 21 M $ 114 M $ 435 M
2023 Median Age : 49 47 41
2023 Total Households : 203 1,171 4,969
2023 Pop Age 25+: Bachelor's Degree : 45 306 1,201
2023 Average Home Value : $ 339,062 $ 352,420 $ 293,381
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
New Cox Road Claiborne Rd 2018 13,000 0.10 mi
Cox Rd Claiborne Rd 2016 13,000 0.10 mi
New Cox Road Hart Rd 2018 13,000 0.12 mi
Cox Rd Hart Rd 2016 13,000 0.12 mi
R-VA026SC01506EB Whisper Dr 2020 160 0.30 mi
Hart Road Kelsey Ln 2020 860 0.35 mi
Namozine Road Audrey Ln 2021 1,800 0.36 mi
Namozine Road Audrey Ln 2020 1,700 0.36 mi
Claiborne Road Harris Dr 2021 640 0.39 mi
Cox Rd Rocky Branch Rd 2016 9,900 0.40 mi

Listing Broker

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