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Views: 87 Updated: 04.17.24 Posted: 06.02.23 Status: Sold

Summary

Price $1,842,000 $1,842,646
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.50% 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,566
Lease Start 11-15-2023
#Units 19,294
Price/SF $174.33 $174.39
Expiration 11-14-2038
Tenant Type Dollar/Discount
NOI $119,772
R. Term 14.0
Ownership Fee Simple
Rent/SF $11.34
Increases 10.0%/5/yrs
Pop 5Mi 15,259
Lot/AC 1.27
Options 4/5yrs/10%
AHHI 5Mi $50,879

Lease Highlights

  • Brand-new construction | To be completed October 2023
  • Brand-new 15-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations in each renewal option
  • Absolute NNN lease with zero landlord responsibilities
  • Dollar General is an investment grade tenant (S&P: BBB)
  • Corporate guarantee by Dollar General Corporation

Location Description

Dollar General is strategically located along Highway 36 (9,260 VPD) which is the main route connecting Wathena to downtown St. Joseph and Kansas City. The subject property is positioned along South Park Street which is a main thoroughfare for the city of Wathena. It is less than one mile west of the Rosecrans Memorial Airport, a regional airport, and within proximity to downtown St. Joseph,...

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Maps

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,213 1,665 6,547
2023 Total Population : 1,233 1,693 6,620
2023 Employed Civilian Pop : 661 913 2,927
2023 Total Businesses : 56 94 347
2023 Average Household Income : $ 73,066 $ 71,888 $ 57,748
2023 Total Consumer Spending : $ 31 M $ 45 M $ 134 M
2023 Median Age : 43 44 41
2023 Total Households : 480 701 2,618
2023 Pop Age 25+: Bachelor's Degree : 111 140 516
2023 Average Home Value : $ 165,203 $ 158,506 $ 134,064
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S 3rd St 2021 1,282 0.08 mi
Limestone St 2021 747 0.11 mi
Treece Road 200th Rd 2021 227 0.18 mi
US 36 St Columbus Rd 2021 6,590 0.22 mi
N 6th St 2021 520 0.22 mi
Fremont St N 7th St 2018 7,310 0.26 mi
Maple Dr 2021 1,041 0.30 mi
Benton St 2021 324 0.32 mi
Jesse St 2021 182 0.33 mi
Tioga Rd 2021 512 0.44 mi

Listing Broker

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