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Dollar General
7390 East North Avenue, Kalamazoo, MI 49048
$1,513,262
Cap Rate 6.55%
Summary
| Price $1,513,262 | Built/Renov 2022 | Tenant Dollar General |
| Cap Rate 6.55% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
10,675
| Lease Start
02-10-2022
| #Units
19,294
|
| Price/SF $141.76 | Expiration
02-28-2037
| Tenant Type Dollar/Discount |
| NOI $99,119 | R. Term 13.2 | Ownership Fee Simple |
| Rent/SF
$9.29
| Increases 10.0%/13/yrs | Pop 5Mi 37,326 |
| Lot/AC 2.53 | Options 5/5yrs/10% | AHHI 5Mi $86,953 |
| | |
Lease Highlights
- 2022 build-to-suit construction
- Dollar General has 13 years remaining on the current lease term with 5 (5-year) options to extend
- Lease features 10% rental increase at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease
Location Description
This Dollar General is strategically located on E. North Ave which sees 10,000+ vehicles passing by daily. Additionally, it is within close proximity to Interstate 94 (96,000+ VPD). Neighboring national tenants include McDonald’s, Wendy’s, Subway, Circle K, and many others, creating a strong drive to the immediate trade area. The subject property is positioned near many major hotels, as well...
...Features
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New construction
-
Near major nationals
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Strategically located
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Affluent suburb location
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Major MSA
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Absolute NNN
-
Long 10+ yr lease
-
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 : | 1,149 | 6,882 | 36,958 |
| 2023 Total Population : | 1,164 | 6,844 | 37,272 |
| 2023 Employed Civilian Pop : | 411 | 3,156 | 18,195 |
| 2023 Total Businesses : | 14 | 428 | 1,694 |
| 2023 Average Household Income : | $ 54,337 | $ 67,944 | $ 77,445 |
| 2023 Total Consumer Spending : | $ 19 M | $ 166 M | $ 1030 M |
| 2023 Median Age : | 35 | 39 | 39 |
| 2023 Total Households : | 410 | 2,794 | 15,218 |
| 2023 Pop Age 25+: Bachelor's Degree : | 75 | 733 | 5,055 |
| 2023 Average Home Value : | $ 147,601 | $ 186,151 | $ 204,327 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| E N Ave | S 29th St | 2007 | 4,525 | 0.07 mi |
| S 29th St | Stermer Dr | 2007 | 2,718 | 0.14 mi |
| Stermer Dr | 2022 | 2,376 | 0.21 mi | |
| E N Ave | Stermer Dr | 2021 | 2,767 | 0.21 mi |
| East on Avenue | S 28th St | 2022 | 685 | 0.43 mi |
| East O Avenue | S 34th St | 2022 | 508 | 0.73 mi |
| 29TH ST | S 29th St | 2021 | 513 | 0.73 mi |
| E on Ave | 2022 | 659 | 0.80 mi | |
| BETWEEN 26TH AND PAVILION | 2021 | 5,359 | 1.04 mi | |
| N AVE | Colchester | 2020 | 4,703 | 1.04 mi |
