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DOM: 47 Updated: 01.19.24 Posted: 01.05.24 Status: Sold 02.21.24

Summary

Price $1,525,000 $1,589,014
Built/Renov 2023
Tenant Dollar General Plus
Cap Rate 6.62% 6.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 07-06-2023
#Units 19,294
Price/SF $143.33 $149.34
Expiration 07-31-2038
Tenant Type Dollar/Discount
NOI $100,902
R. Term 13.3
Ownership Fee Simple
Rent/SF $9.48
Increases 5.0%/4/yrs
Pop 5Mi 13,956
Lot/AC 2.00
Options 5/5yrs/5%
AHHI 5Mi $93,029

Lease Highlights

  • 2023 BTS Plus size construction | Opened in July
  • Dollar General recently signed a new 15-year lease with 5 (5-year) options to extend
  • The lease features 5% rent increases every 5 years throughout base term and in each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar General Plus is highly visible as it is strategically located on Mason Road, with access to 7,732 vehicles passing by daily. Its advantageous proximity to a convenience store and gas station, just 2 miles away, adds to its convenience. This prime location is further enhanced by its limited competition, being the sole dollar store within an 8-mile radius. The 5-mile trade area is...

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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 : 355 3,997 15,326
2023 Total Population : 338 3,784 15,092
2023 Employed Civilian Pop : 183 1,989 7,430
2023 Total Businesses : 10 33 469
2023 Average Household Income : $ 118,315 $ 114,534 $ 100,794
2023 Total Consumer Spending : $ 11 M $ 128 M $ 489 M
2023 Median Age : 41 41 41
2023 Total Households : 119 1,308 5,624
2023 Pop Age 25+: Bachelor's Degree : 58 600 2,160
2023 Average Home Value : $ 332,870 $ 330,645 $ 285,436
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bull Run Rd AND Fowlerville Rd Fowlerville Rd 2021 8,548 0.25 mi
West Mason Road N Gregory Rd 2022 8,317 0.25 mi
Bull Run Road 2019 2,530 0.47 mi
Crofoot Rd AND Mason Rd W Mason Rd 2021 3,090 0.47 mi
Bull Run Road Munsell Rd 2022 3,007 0.47 mi
Bull Run Rd Crofoot Rd 2020 2,795 0.47 mi
S Bull Run Rd Crofoot Rd 2014 2,253 0.51 mi
N Fowlerville Rd Colleen Dr 2020 3,499 0.52 mi
Mason Rd Colleen Dr 2021 3,868 0.53 mi
Fowlerville Road 2019 3,750 0.53 mi

Listing Broker

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