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Dollar General
103 North 37th Road, Lake City, IA 51449
$1,160,405
Cap Rate 7.00%
Summary
| Price $1,160,405 | Built/Renov 2016 | Tenant Dollar General |
| Cap Rate 7.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
9,128
| Lease Start
12-01-2016
| #Units
19,294
|
| Price/SF $127.13 | Expiration
12-31-2031
| Tenant Type Dollar/Discount |
| NOI $81,228 | R. Term 8.0 | Ownership Fee Simple |
| Rent/SF
$8.90
| Increases 10.0%/3/yrs | Pop 5Mi 2,064 |
| Lot/AC 1.55 | Options 5/5yrs | AHHI 5Mi $79,592 |
| | |
Lease Highlights
- Dollar General has 8 years remaining on the current lease term with 5 (5-year) options to extend
- Lease features 10% increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease
Location Description
This Dollar General is strategically located on N. 37th Rd., a major thoroughfare that sees 2,936+ vehicles passing by daily. It is within close proximity to South Central Calhoun High School (280+ students), and Stewart Memorial Community Hospital (25+ beds). The 5-mile surrounding area is comprised of 2,064 residents, earning an average household income of $ $79,592, which is an ideal...
...Features
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Build to suit
-
Major thoroughfare
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Strategically located
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Hospital close
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Absolute NNN
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Limited competition
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Traded and rated company
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Corporate Guarantee
-
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 : | 1,470 | 1,792 | 1,976 |
| 2023 Total Population : | 1,501 | 1,830 | 2,018 |
| 2023 Employed Civilian Pop : | 662 | 820 | 925 |
| 2023 Total Businesses : | 79 | 102 | 107 |
| 2023 Average Household Income : | $ 80,420 | $ 84,186 | $ 89,302 |
| 2023 Total Consumer Spending : | $ 45 M | $ 57 M | $ 68 M |
| 2023 Median Age : | 50 | 50 | 49 |
| 2023 Total Households : | 648 | 783 | 863 |
| 2023 Pop Age 25+: Bachelor's Degree : | 146 | 170 | 177 |
| 2023 Average Home Value : | $ 161,289 | $ 169,936 | $ 184,734 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| N 37th St | Washington St | 2015 | 570 | 0.03 mi |
| W Main St | N 37th St | 2015 | 3,110 | 0.05 mi |
| County Rd | W Jefferson St | 2015 | 400 | 0.06 mi |
| N Wayne St | Washington St | 2015 | 170 | 0.22 mi |
| IA 175 | W Main St | 2022 | 2,210 | 0.23 mi |
| N Olive St | Washington St | 2015 | 230 | 0.40 mi |
| W Main St | Hughitt St | 2015 | 3,970 | 0.49 mi |
| West St | Washington St | 2015 | 170 | 0.52 mi |
| S West St | W Jefferson St | 2015 | 410 | 0.52 mi |
| W 6th St | Iberia Ave | 2015 | 80 | 0.52 mi |
