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Updated: 02.29.24 Posted: 10.05.23 Status: Sold 10.02.23

Summary

Price $2,165,833 $2,260,000
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.00% 5.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,026
Lease Start 03-31-2023
#Units 19,294
Price/SF $239.95 $250.39
Expiration 03-31-2038
Tenant Type Dollar/Discount
NOI $129,997
R. Term 12.11
Ownership Fee Simple
Rent/SF $14.40
Increases 10.0%/14/yrs
Pop 5Mi 107,121
Lot/AC 1.16
Options 2/5yrs/10%
AHHI 5Mi $121,467

Lease Highlights

  • Brand-new 2023 construction
  • Tenant recently signed a brand-new 15-year lease with 2 (5-year) options to extend
  • Lease features 10% rental increase at the start of each option
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)
  • Investment grade tenant (S&P: BBB)

Location Description

Dollar General is located on N. County Line Road, which has access to a daily traffic count of 11,493 vehicles. The property is situated within Gate Commons, a newly developed community in Souderton Borough which includes 64,000 square feet of commercial space (including 7 pad sites), 140 residential townhomes, walking trails, a public park, and an amphitheater. In close proximity to Dollar...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dolgencorp LLC
  • 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 : 12,030 44,918 108,708
2023 Total Population : 11,577 44,354 107,365
2023 Employed Civilian Pop : 6,703 24,911 58,993
2023 Total Businesses : 508 1,500 3,895
2023 Average Household Income : $ 103,838 $ 117,407 $ 129,182
2023 Total Consumer Spending : $ 413 M $ 1735 M $ 4569 M
2023 Median Age : 42 42 43
2023 Total Households : 4,657 17,324 41,614
2023 Pop Age 25+: Bachelor's Degree : 1,725 8,524 21,592
2023 Average Home Value : $ 347,284 $ 409,558 $ 425,882
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N County Line Rd S County Line Rd 2017 11,493 0.10 mi
E Broad St N 5th St 2019 10,621 0.26 mi
East Broad Street N 2nd St 2022 8,836 0.29 mi
East Broad Street State Hwy309 2021 10,555 0.29 mi
S County Line Rd County Line Rd 2015 2,684 0.31 mi
W Main St 2021 4,014 0.31 mi
W Main St 2021 4,387 0.35 mi
W Main St 2022 2,947 0.35 mi
W Main St 2022 2,840 0.39 mi
Souderton Road Briarwood Dr 2021 10,555 0.39 mi

Listing Broker

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