Dollar General

100 Lincoln Avenue West, Fairfax, MN 55332

$895,000

Cap Rate 8.28%

$1,140,022

Cap Rate 6.50%

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

Ryan Bennett

Lee & Associates

Contact

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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Key Features

Build to suit
Major thoroughfare
Strategically located
Highway location
Absolute NNN
Limited competition
Traded and rated company
Over 2000 units backed
Corporate Guarantee
Investment grade tenant

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Links

Dollar General Wikipedia Dollar General Wikipedia Fairfax, Minnesota Zip Code 55332 Broker Site Page

Maps

Local Information

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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