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Dollar General
68123 County Road 380, South Haven, MI 49090
$1,320,507
Cap Rate 6.65%
Summary
| Price $1,320,507 | Built/Renov 2022 | Tenant Dollar General |
| Cap Rate 6.65% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
10,616
| Lease Start
06-23-2022
| #Units
19,294
|
| Price/SF $124.39 | Expiration
06-30-2037
| Tenant Type Dollar/Discount |
| NOI $87,814 | R. Term 13.6 | Ownership Fee Simple |
| Rent/SF
$8.27
| Increases 10.0%/13/yrs | Pop 5Mi 11,694 |
| Lot/AC 1.79 | Options 5/5yrs/10% | AHHI 5Mi $81,379 |
| | |
Lease Highlights
- 2022 build-to-suit construction for Dollar General PLUS
- Dollar General has 13+ years remaining on the base term of an initial 15-year lease
- The lease features 5 (5-year) renewal options, all of which include a 10% rent increase
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee | Investment grade tenant
Location Description
Dollar General is strategically located on County Road 380, within close proximity to Interstate 196 which sees 25,000+ vehicles passing by daily. Nearby national tenants include Walmart, NAPA, O’Reilly Auto Parts, McDonald’s, Arby’s and many others, proving crossover traffic to the site. There are 11,861 residents, earning an average household income of $81,379 within a 5-mile radius of the...
...Features
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New construction
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Strategically located
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Highway location
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Brand new lease
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Absolute NNN
-
Long 10+ yr lease
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Limited competition
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Traded and rated company
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Corporate Guarantee
-
Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 541 | 2,379 | 10,983 |
| 2023 Total Population : | 544 | 2,421 | 11,159 |
| 2023 Employed Civilian Pop : | 299 | 1,176 | 4,686 |
| 2023 Total Businesses : | 6 | 40 | 454 |
| 2023 Average Household Income : | $ 73,610 | $ 70,036 | $ 75,905 |
| 2023 Total Consumer Spending : | $ 12 M | $ 55 M | $ 302 M |
| 2023 Median Age : | 36 | 39 | 42 |
| 2023 Total Households : | 186 | 899 | 4,503 |
| 2023 Pop Age 25+: Bachelor's Degree : | 33 | 165 | 952 |
| 2023 Average Home Value : | $ 282,914 | $ 268,014 | $ 276,823 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| M 43 | 2022 | 1,271 | 0.04 mi | |
| 380 | M 43 | 2022 | 354 | 0.06 mi |
| 380 | M 43 | 2022 | 1,168 | 0.06 mi |
| M 43 | 2022 | 79 | 0.08 mi | |
| County Road 687 | 16th Ave | 2022 | 595 | 0.95 mi |
| M-43 | 16th Ave | 2022 | 7,348 | 1.04 mi |
| M-43 | 66th St | 2022 | 6,050 | 1.64 mi |
| State Hwy 43 | 16th Ave | 2015 | 8,200 | 1.91 mi |
| 12th Ave | Riverside Dr | 2003 | 1,417 | 2.06 mi |
| 12th Avenue | 62nd St | 2022 | 997 | 2.73 mi |
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