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DOM: 214 Updated: 03.29.24 Posted: 08.10.23 Status: Sold 03.11.24

Summary

Price $1,685,800
Built/Renov 2022
Tenant Dollar General
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 12-15-2022
#Units 19,294
Price/SF $158.44
Expiration 12-31-2037
Tenant Type Dollar/Discount
NOI $113,793
R. Term 12.7
Ownership Fee Simple
Rent/SF $10.69
Increases 10.0%/14/yrs
Pop 5Mi 62,141
Lot/AC 3.02
Options 3/5yrs/10%
AHHI 5Mi $67,889

Lease Highlights

  • 2022 construction featuring state of the art materials, high-level finishes, and distinct Dollar General design elements
  • Tenant recently signed a new 15-year lease with 2 (5-year) & 1 (4-year 11 months) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Dollar General is an investment grade tenant (S&P: BBB)
  • Corporate guaranteed lease

Location Description

This newly constructed Dollar General is strategically fronting Bedford Street (State Hwy 756) with clear visibility and access to 14,400 vehicles passing by daily. The asset has excellent visibility via street frontage providing ease and convenience for customers. This location features Dollar General’s newest prototype and benefits from limited competition as there are only three discount...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • # 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 : 6,132 33,417 60,637
2023 Total Population : 6,255 34,080 61,769
2023 Employed Civilian Pop : 2,779 15,150 26,856
2023 Total Businesses : 168 1,801 2,633
2023 Average Household Income : $ 74,786 $ 74,395 $ 76,945
2023 Total Consumer Spending : $ 182 M $ 1049 M $ 1874 M
2023 Median Age : 50 48 48
2023 Total Households : 2,790 16,077 27,769
2023 Pop Age 25+: Bachelor's Degree : 919 4,661 8,867
2023 Average Home Value : $ 137,864 $ 137,138 $ 140,892
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bedford Street Wales Ave 2020 5,273 0.11 mi
Bedford Street Joseph Ave 2021 11,293 0.11 mi
Bentwood Avenue Belton St 2021 1,535 0.23 mi
Penrod St Ringling Ave 2016 413 0.25 mi
Walters Ave Falls Run Rd 2017 1,336 0.26 mi
Bedford Street Rosewood St 2020 4,938 0.31 mi
Bedford St Mills St 2017 14,050 0.36 mi
Walters Avenue Barbera Dr 2020 1,487 0.44 mi
Ringling Avenue Ringling Ave 2020 221 0.48 mi
Oakland Avenue Blue Diamond St 2021 3,288 0.54 mi

Listing Broker

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