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Views: 45 DOM: 115 Updated: 04.28.24 Posted: 02.08.24 Status: Active

Summary

Price $2,225,000
Built/Renov 2024
Tenant Dollar General Market
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,663
Lease Start 02-15-2024
#Units 19,986
Price/SF $175.71
Expiration 02-28-2039
Tenant Type Dollar/Discount
NOI $144,656
R. Term 14.9
Ownership Fee Simple
Rent/SF $11.42
Increases 5.0%/5/yrs
Pop 5Mi 2,722
Lot/AC 2.06
Options 3/5yrs/5%
AHHI 5Mi $69,638

Lease Highlights

  • Brand-new 2024 construction
  • Dollar General Market will be executing a brand-new 15-year lease with 3 (5-year) options to extend
  • The lease features 5% rental escalations every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Market is strategically located on Solomon Road, fronting State Route Highway 1. Community institutions in the vicinity include Glenfield Elementary School, St. Mary’s Church, Colwell’s Farm Market and Garden Center, among others. This prime location is further accentuated by the limited competition in the area. The 5-mile trade area is supported by a population of 2,722 with an...

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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 : 385 1,212 3,032
2023 Total Population : 393 1,215 3,034
2023 Employed Civilian Pop : 192 599 1,505
2023 Total Businesses : 16 33 88
2023 Average Household Income : $ 83,692 $ 84,262 $ 85,878
2023 Total Consumer Spending : $ 12 M $ 36 M $ 96 M
2023 Median Age : 38 41 42
2023 Total Households : 168 487 1,254
2023 Pop Age 25+: Bachelor's Degree : 33 97 227
2023 Average Home Value : $ 239,919 $ 213,990 $ 200,574
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Solomon Rd 2021 748 0.57 mi
Houseville Rd 2021 338 0.59 mi
Burke Rd 2021 210 0.67 mi
State Rte 12 2021 714 0.76 mi
Glenfield Rd 2021 475 0.85 mi
Lee Rd 2021 39 1.49 mi
2021 405 1.55 mi
Otter Creek Rd 2021 1,262 1.55 mi
Tiffany Rd 2021 71 1.74 mi
Meiss Rd 2021 175 2.02 mi

Listing Broker

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