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DOM: 133 Updated: 07.22.24 Posted: 02.09.24 Status: Sold 06.21.24

Summary

Price $895,000 $1,140,022
Built/Renov 2017
Tenant Dollar General
Cap Rate 8.28% 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,489
Lease Start 01-01-2018
#Units 19,294
Price/SF $119.51 $152.23
Expiration 01-01-2033
Tenant Type Dollar/Discount
NOI $74,101
R. Term 7.7
Ownership Fee Simple
Rent/SF $9.89
Increases 10.0%/9/yrs
Pop 5Mi 1,616
Lot/AC 2.52
Options 5/5yrs/10%
AHHI 5Mi $77,996

Highlights

  • Dollar General has 8+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental increases at the start go each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General is strategically located on Lincoln Avenue W, with access to a daily traffic count of 3,434 vehicles. Furthermore, this prime location is enhanced by the limited competition in the area. The nearest Dollar General is located 15 miles away in Hector, MN. Moreover, the closest grocery store is situated 20 miles away in Redwood Falls, MN. Notably, the store is conveniently...

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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 : 1,145 1,295 1,557
2023 Total Population : 1,184 1,338 1,606
2023 Employed Civilian Pop : 501 564 676
2023 Total Businesses : 60 66 77
2023 Average Household Income : $ 67,786 $ 69,029 $ 71,329
2023 Total Consumer Spending : $ 29 M $ 34 M $ 42 M
2023 Median Age : 49 49 49
2023 Total Households : 481 545 658
2023 Pop Age 25+: Bachelor's Degree : 74 85 105
2023 Average Home Value : $ 154,733 $ 161,643 $ 177,335
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Park Street North 4th Ave NW 2022 720 0.13 mi
Park St N Lincoln Ave E 2019 720 0.15 mi
Lincoln Avenue East 2nd St NE 2022 2,857 0.17 mi
Lincoln Avenue East Brown Dr 2021 2,857 0.17 mi
1st Street Southeast 3rd Ave SE 2022 1,050 0.19 mi
2nd Ave SW 2022 385 0.19 mi
1st St SE 1st Ave SE 2019 1,050 0.20 mi
Park St N 3rd Ave NE 2019 405 0.31 mi
Elm Dr 6th Ave SE 2006 1,156 0.52 mi
Elm Drive 4th Ave SE 2022 730 0.54 mi

Listing Broker

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