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Views: 26 DOM: 31 Updated: 05.03.24 Posted: 04.16.24 Status: Active

Summary

Price $1,978,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 03-01-2024
#Units 19,986
Price/SF $187.20
Expiration 03-31-2039
Tenant Type Dollar/Discount
NOI $131,532
R. Term 14.10
Ownership Fee Simple
Rent/SF $12.45
Increases 5.0%/5/yrs
Pop 5Mi 4,268
Lot/AC 1.84
Options 5/5yrs/5%
AHHI 5Mi $93,955

Lease Highlights

  • Brand new 2023 construction
  • Dollar General recently signed a brand 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 | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar general is strategically located at the hard corner intersection of U.S. Highway 17 and Culpepper Road, a major commuter thoroughfare, which access to a combined daily traffic count of 20,700 vehicles. The property benefits from limited competition as there is only one other discount store serving the immediate trade area. The 5-mile trade area is supported by a population of 4,268...

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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:19,986
  • 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
2028 Total Population : 843 2,265 4,300
2023 Total Population : 829 2,229 4,268
2023 Employed Civilian Pop : 387 1,039 2,028
2023 Total Businesses : 8 14 49
2023 Average Household Income : $ 99,109 $ 99,109 $ 93,955
2023 Total Consumer Spending : $ 22 M $ 63 M $ 124 M
2023 Median Age : 43 43 43
2023 Total Households : 267 757 1,544
2023 Pop Age 25+: Bachelor's Degree : 70 189 386
2023 Average Home Value : $ 248,750 $ 249,669 $ 247,352
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Traders Dr 2022 600 0.04 mi
Keeter Barn Road Pudding Ridge Rd 2022 1,647 1.46 mi
US Hwy 17 2022 16,138 1.59 mi
US Hwy 17 Hwy 17 Bus 2018 16,000 1.62 mi
US 17 McPherson Rd 2022 11,552 1.66 mi
McPherson Rd 2019 14,000 1.83 mi
US 17 2021 15,316 1.91 mi
Sharon Church Rd Island Rd 2004 270 2.06 mi
Lilly Rd 2022 452 2.13 mi
Lilly Road Sharon Church Rd 2022 1,334 2.20 mi

Listing Broker

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