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Updated: 05.11.24 Posted: 08.10.23 Status: Sold

Summary

Price $1,547,000
Built/Renov 2022
Tenant Dollar General
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 07-18-2022
#Units 19,294
Price/SF $145.39
Expiration 07-31-2037
Tenant Type Dollar/Discount
NOI $100,541
R. Term 12.2
Ownership Fee Simple
Rent/SF $9.45
Increases 10.0%/14/yrs
Pop 5Mi 44,956
Lot/AC 2.73
Options 3/5yrs/10%
AHHI 5Mi $73,477

Lease Highlights

  • New 2022 construction
  • Dollar General has over 13 years remaining on the current lease term with 2 (5-year) options to extend and 1 (4 year 11 month) option to extend
  • Lease features a 10% rental increase at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Dollar General Corp. 
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

This newly constructed Dollar General is strategically located along Fayette Avenue with access to 7,100 vehicles per day. The site is situated along a main thoroughfare with national/credit tenants including Dollar General, Aldi, Big Lots, McDonald's, Walmart Supercenter and more. The 5-mile trade area is supported by 44,956 residents earning an average annual income of $73,477. Belle Vernon...

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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 : 3,585 15,645 44,341
2023 Total Population : 3,641 15,844 44,926
2023 Employed Civilian Pop : 1,621 7,206 20,746
2023 Total Businesses : 92 672 1,638
2023 Average Household Income : $ 69,685 $ 75,644 $ 73,595
2023 Total Consumer Spending : $ 100 M $ 487 M $ 1288 M
2023 Median Age : 52 50 46
2023 Total Households : 1,631 7,273 19,817
2023 Pop Age 25+: Bachelor's Degree : 410 2,150 5,509
2023 Average Home Value : $ 152,208 $ 178,702 $ 183,027
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fayette Ave Cozy Ln 2017 6,396 0.04 mi
Perry Rd Dinsmore St 2017 2,301 0.30 mi
Fayette Avenue 4th St 2021 4,328 0.33 mi
Perry Road Smithfield St 2020 2,070 0.34 mi
Fayette Ave Edith St 2017 6,396 0.36 mi
Long Avenue Gahela St 2020 206 0.43 mi
Fayette Ave Marston St 2017 2,886 0.47 mi
Marston Street Edwards St 2020 38 0.50 mi
Koslasky Drive Victoria Exd 2020 232 0.56 mi
Naomi Rd State Rte906 2017 2,486 0.59 mi

Listing Broker

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