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Dollar General
266 Main Street, Walkerville, MI 49459
$1,426,408
Cap Rate 6.65%
Summary
| Price $1,426,408 | Built/Renov 2020 | Tenant Dollar General |
| Cap Rate 6.65% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
10,660
| Lease Start
04-25-2022
| #Units
19,294
|
| Price/SF $133.81 | Expiration
04-30-2037
| Tenant Type Dollar/Discount |
| NOI $94,856 | R. Term 13.4 | Ownership Fee Simple |
| Rent/SF
$8.90
| Increases 10.0%/4/yrs | Pop 5Mi 1,578 |
| Lot/AC 3.01 | Options 3/5yrs/10% | AHHI 5Mi $72,030 |
| | |
Lease Highlights
- Dollar General has 13+ years remaining on the base term of an initial 15-year lease
- The lease features 3 (5-year) renewal options, all of which include a 10% rent increase
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease
- Investment grade tenant (S&P: BBB)
Location Description
Dollar General is strategically located at the signalized, hard corner intersection of Main Street and 176th Ave, with access to a combined traffic count of 2,290 vehicles passing by daily. Situated on the main thoroughfare, the property is conveniently located in close proximity to the local schools. The 5-mile trade area is supported by a population of 1,578 residents, with an average...
...Features
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Signalized intersection
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Hard corner intersection
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Strategically located
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Strong tenant synergy
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Absolute NNN
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Long 10+ yr lease
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Limited competition
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Traded and rated company
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Corporate Guarantee
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Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 321 | 761 | 1,684 |
| 2023 Total Population : | 316 | 748 | 1,664 |
| 2023 Employed Civilian Pop : | 147 | 347 | 746 |
| 2023 Total Businesses : | 17 | 24 | 43 |
| 2023 Average Household Income : | $ 69,851 | $ 69,851 | $ 69,200 |
| 2023 Total Consumer Spending : | $ 6 M | $ 17 M | $ 37 M |
| 2023 Median Age : | 39 | 39 | 39 |
| 2023 Total Households : | 99 | 273 | 606 |
| 2023 Pop Age 25+: Bachelor's Degree : | 17 | 40 | 96 |
| 2023 Average Home Value : | $ 172,892 | $ 174,565 | $ 178,706 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| North 176th Avenue | E Van Buren Rd | 2022 | 1,171 | 1.08 mi |
| East Harrison Road | N 188th Ave | 2022 | 438 | 1.38 mi |
| East Harrison Road | N 160th Ave | 2022 | 1,260 | 2.28 mi |
| East Polk Road | Beach Rd | 2022 | 534 | 2.50 mi |
| East Jackson Road | N 192nd Ave | 2022 | 714 | 2.66 mi |
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