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DOM: 48 Updated: 05.07.24 Posted: 01.05.24 Status: Sold 02.23.24

Summary

Price $2,402,000 $2,517,504
Built/Renov 2023
Tenant Dollar General Plus
Cap Rate 6.55% 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 10-25-2023
#Units 19,294
Price/SF $225.75 $236.61
Expiration 10-31-2038
Tenant Type Dollar/Discount
NOI $157,344
R. Term 13.5
Ownership Fee Simple
Rent/SF $14.79
Increases 10.0%/14/yrs
Pop 5Mi 30,734
Lot/AC 1.19
Options 5/5yrs/10%
AHHI 5Mi $97,353

Highlights

  • 2023 BTS Plus size construction | Opened in October
  • Dollar General recently signed a new 15-year lease with 5 (5-year) options to extend
  • The lease features 10% rent increases at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Plus is strategically located at the hard corner intersection of Charlotte Highway and McAllister Hill Lane, with high visibility and access to 3,429 vehicles passing by daily. Conveniently situated just off the I-77 exit, witnessing a substantial traffic count of 62,900 VPD. The property is in close proximity to a Bojangles (the #2 ranked Bojangles within a 15-mile radius) and...

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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 : 1,451 13,587 38,050
2023 Total Population : 1,289 12,433 35,137
2023 Employed Civilian Pop : 669 6,346 17,735
2023 Total Businesses : 52 251 1,014
2023 Average Household Income : $ 77,729 $ 100,047 $ 112,763
2023 Total Consumer Spending : $ 27 M $ 415 M $ 1296 M
2023 Median Age : 38 41 41
2023 Total Households : 409 4,781 13,348
2023 Pop Age 25+: Bachelor's Degree : 189 1,719 5,783
2023 Average Home Value : $ 276,951 $ 314,133 $ 376,950
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Charlotte Highway McAllister Hill Ln 2021 14,000 0.08 mi
Charlotte Hwy Shady Creek Ln 2018 15,500 0.18 mi
Appliance Ave 2021 6,000 0.27 mi
Appliance Ave 2021 5,800 0.28 mi
Lipe Rd 2021 6,300 0.34 mi
Julian Pl 2021 5,400 0.47 mi
Flower House Loop Apple Hill Rd 2016 3,800 0.65 mi
Flower House Loop Rankin Hill Rd 2016 1,300 0.68 mi
Apple Hill Rd Flower House Loop 2015 180 0.71 mi
Lipe Rd Bryan Ln 2016 210 0.73 mi

Listing Broker

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