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DOM: 103 Updated: 02.29.24 Posted: 09.06.23 Status: Sold 12.18.23

Summary

Price $1,584,175 $1,696,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.85% 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 03-29-2023
#Units 19,294
Price/SF $148.89 $159.40
Expiration 05-31-2038
Tenant Type Dollar/Discount
NOI $108,516
R. Term 13.0
Ownership Fee Simple
Rent/SF $10.20
Increases 10.0%/5/yrs
Pop 5Mi 114,805
Lot/AC 1.81
Options 5/5yrs/10%
AHHI 5Mi $61,911

Lease Highlights

  • Brand-new 2023 construction with rare upgrade to façade building
  • Dollar General recently signed a brand-new 15-year lease with 5 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease by Dollar General Corp. (NYSE: DG)
  • Dollar General is an investment grade tenant (S&P: BBB)

Location Description

This newly constructed 10,640 square foot Dollar General is strategically located along Norman Bridge Road with access to 10,681 vehicles per day. This is a relocation store that was previously positioned less than .2 miles away from its current location. The tenant is directly across from the Loveman’s Department Store anchored Normandale Shopping Center further increasing consumer traffic to...

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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 : 8,451 51,016 108,261
2023 Total Population : 8,651 51,936 110,202
2023 Employed Civilian Pop : 3,560 20,129 44,461
2023 Total Businesses : 164 1,899 4,985
2023 Average Household Income : $ 51,233 $ 64,601 $ 62,955
2023 Total Consumer Spending : $ 154 M $ 1160 M $ 2508 M
2023 Median Age : 37 38 36
2023 Total Households : 3,423 20,523 45,435
2023 Pop Age 25+: Bachelor's Degree : 608 5,455 11,971
2023 Average Home Value : $ 114,664 $ 177,615 $ 172,196
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Norman Bridge Rd E Patton Ave 2004 14,400 0.15 mi
Norman Bridge Road 2021 10,656 0.19 mi
Norman Bridge Rd Norman Ln 2018 11,514 0.22 mi
Norman Bridge Road Norman Ln 2020 10,656 0.22 mi
East Patton Avenue Wesley Dr 2020 4,284 0.26 mi
East Patton Avenue Stanley Dr 2021 4,284 0.26 mi
Norman Bridge Road Winston Dr 2020 9,635 0.33 mi
Norman Bridge Rd E Delano Ave 2018 10,415 0.34 mi
Norman Bridge Rd South Blvd 2005 13,110 0.35 mi
E Patton Ave Kelley Ln 2005 6,940 0.36 mi

Listing Broker

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