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Updated: 04.16.24 Posted: 12.01.23 Status: Sold

Summary

Price $1,255,405
Built/Renov 2022
Tenant Dollar General
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 04-30-2022
#Units 19,294
Price/SF $117.99
Expiration 04-30-2037
Tenant Type Dollar/Discount
NOI $84,740
R. Term 11.11
Ownership Fee Simple
Rent/SF $7.96
Increases 10.0%/15/yrs
Pop 5Mi 10,612
Lot/AC 1.06
Options 5/5yrs/10%
AHHI 5Mi $57,947

Lease Highlights

  • New 2022 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

Dollar General is strategically located on Highway KY-2254, with access to 4,005 vehicles passing by daily. This advantageous location is further enhanced by the limited competition in the area. Surrounding the property are several community establishments, including Artemus Baptist Church, Straight Way Pentecostal Church, Artemus Fire Department, and more. The 5-mile trade area is supported...

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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 : 473 3,727 10,323
2023 Total Population : 488 3,828 10,577
2023 Employed Civilian Pop : 140 1,355 3,456
2023 Total Businesses : 8 168 435
2023 Average Household Income : $ 41,391 $ 47,625 $ 52,266
2023 Total Consumer Spending : $ 7 M $ 68 M $ 201 M
2023 Median Age : 42 42 41
2023 Total Households : 210 1,597 4,264
2023 Pop Age 25+: Bachelor's Degree : 27 244 822
2023 Average Home Value : $ 145,611 $ 147,111 $ 146,488
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 930 Pine Tree 2000 1,448 0.28 mi
State Hwy 225 Highland St 2000 4,005 0.32 mi
KY 930 Fortney Branch Rd 2021 589 1.19 mi
Fortney Branch Rd 2018 614 1.28 mi
Cumberland Gap Pkwy Noeville Hollow Rd 2015 17,457 1.67 mi
Columbia Gas Ln Mills Ln 2015 756 1.75 mi
KY 225 2021 707 1.76 mi
KY 2415 2021 687 1.78 mi
Cougar Edge Rd Cumberland Gap Pkwy 2000 20,182 1.78 mi
State Hwy 225 Little Brush Rd 2015 1,873 1.86 mi

Listing Broker

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