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Updated: 03.22.24 Posted: 01.26.24 Status: Sold    

Summary

Price $1,689,680
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.30%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 05-09-2023
#Units 19,294
Price/SF $158.80
Expiration 05-31-2038
Tenant Type Dollar/Discount
NOI $106,450
R. Term 12.10
Ownership Fee Simple
Rent/SF $10.00
Increases 10.0%/14/yrs
Pop 5Mi 23,330
Lot/AC 1.50
Options 3/5yrs/10%
AHHI 5Mi $62,788

Highlights

  • Brand-new 2023 construction
  • Dollar General has 14+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

This newly constructed Dollar General is strategically located on Dry Run Road which sees 5,967+ vehicles passing by daily. It is also just 0.5 mile from Route 43 which sees an additional 12,000+ vehicles per day. Traffic generators in the area include the Therm-O-Rock East (135 employees), Monongahela Valley Hospital (225 employees), Mon Valley Care Center (101 beds & 30 employees); Ringgold...

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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: Baa2
  • 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 : 1,114 9,184 22,868
2023 Total Population : 1,131 9,323 23,211
2023 Employed Civilian Pop : 622 4,372 11,155
2023 Total Businesses : 24 353 831
2023 Average Household Income : $ 100,348 $ 80,996 $ 87,625
2023 Total Consumer Spending : $ 42 M $ 303 M $ 796 M
2023 Median Age : 51 49 50
2023 Total Households : 498 4,276 10,409
2023 Pop Age 25+: Bachelor's Degree : 332 1,397 3,282
2023 Average Home Value : $ 240,818 $ 198,378 $ 226,112
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Dry Run Rd 4th St Exd 2012 5,276 0.04 mi
Dry Run Rd 2021 3,083 0.12 mi
Shannon Road 4th St 2021 689 0.18 mi
Dry Run Road Keenan Hill Rd 2021 4,272 0.24 mi
Dry Run Road Keenan Hill Rd 2020 3,516 0.33 mi
Dry Run Road Hazel Kirk Rd 2021 3,868 0.34 mi
Dry Run Rd Ram Dr 2017 5,493 0.50 mi
Union Street Hwy88 2020 1,850 0.64 mi
Mon/Fayette Expressway Mon-Fayette Expy 2021 5,714 0.70 mi
PA 136 Mon-Fayette Expy 2021 4,272 0.74 mi

Listing Broker

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