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DOM: 44 Updated: 12.07.23 Posted: 08.10.23 Status: Sold     09.23.23

Summary

Price $1,350,000 $1,455,000
Built/Renov 2021
Tenant Dollar General
Cap Rate 7.00% 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,002
Lease Start 11-08-2021
#Units 19,294
Price/SF $149.97 $161.63
Expiration 11-30-2036
Tenant Type Dollar/Discount
NOI $94,560
R. Term 11.4
Ownership Fee Simple
Rent/SF $10.50
Increases 10.0%/13/yrs
Pop 5Mi 668
Lot/AC 1.35
Options 5/5yrs/10%
AHHI 5Mi $54,604

Highlights

  • 2021 construction featuring state of the art materials, high-level finishes, and distinct Dollar General design elements
  • Tenant has 13+ years remaining on the current lease term with 5 (5-year) options to extend
  • Lease features 10% rental increases at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease by Dollar General Corporation (NYSE: DG)

Location Description

This newly constructed Dollar General is located at the hard corner intersection of Ontario Street and George Street. The subject property has excellent visibility via street frontage and multiple points of access, providing ease and convenience for customers. The site benefits from limited competition as this is the only discount store serving the surrounding trade area. The 5-mile trade area...

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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 : 184 461 660
2023 Total Population : 189 473 677
2023 Employed Civilian Pop : 45 116 175
2023 Total Businesses : 25 46 53
2023 Average Household Income : $ 67,830 $ 67,744 $ 67,555
2023 Total Consumer Spending : $ 6 M $ 15 M $ 21 M
2023 Median Age : 64 64 63
2023 Total Households : 100 248 360
2023 Pop Age 25+: Bachelor's Degree : 18 45 63
2023 Average Home Value : $ 268,883 $ 264,423 $ 255,843
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Caribou Rd Midway Plaisance 2021 1,342 0.12 mi
M 134 Superior St 2021 792 0.21 mi
M 134 Frances St 2021 905 0.84 mi
M 134 S Humms Rd 2021 685 1.50 mi
E Channel Rd Black Rock Point Rd 2015 510 1.75 mi

Listing Broker

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