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Views: 85 DOM: 140 Updated: 01.08.24 Posted: 07.14.23 Status: Sold 12.01.23

Summary

Price $720,000 $779,221
Built/Renov 2005
Tenant Dollar General
Cap Rate 8.33% 7.70%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,014
Lease Start 02-01-2005
#Units 19,294
Price/SF $79.88 $86.45
Expiration 01-31-2027
Tenant Type Dollar/Discount
NOI $60,000
R. Term 2.2
Ownership Fee Simple
Rent/SF $6.66
Increases 9.0%/2/yrs
Pop 5Mi 6,467
Lot/AC 0.59
Options 3/5yrs/9%
AHHI 5Mi $78,653

Lease Highlights

  • Dollar General has been operating in this location since 2005
  • Tenant has over 3 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 9% rental increases every 5 years thought the initial term and at the start of each option
  • Corporate guaranteed lease 
  • Investment grade tenant (S&P: BBB)

Location Description

This 9,014 square foot Dollar General is located along the signalized, hard corner intersection of North Dixie Highway and East 2nd Street with access to 12,300 vehicles per day. Located along a primary thoroughfare, the site benefits from its close proximity to national/credit tenants such as CVS, Burger King, Dairy Queen, Shell Subway, and several others. Additionally, the property is less...

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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 : 3,296 4,391 6,348
2023 Total Population : 3,336 4,450 6,443
2023 Employed Civilian Pop : 1,569 2,130 3,031
2023 Total Businesses : 141 166 191
2023 Average Household Income : $ 72,910 $ 78,488 $ 79,508
2023 Total Consumer Spending : $ 81 M $ 120 M $ 174 M
2023 Median Age : 41 42 43
2023 Total Households : 1,281 1,762 2,532
2023 Pop Age 25+: Bachelor's Degree : 183 259 398
2023 Average Home Value : $ 221,394 $ 226,679 $ 224,838
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W 2nd St N Pine St 2005 2,950 0.07 mi
IL 1;IL 17 E 2nd St 2021 8,000 0.07 mi
RANGE ST 2021 8,200 0.07 mi
N Dixie Hwy E 3rd St 2005 10,000 0.09 mi
N Dixie Hwy W River St 2005 10,900 0.13 mi
S Dixie Hwy Mill St 2005 12,300 0.22 mi
IL 1;IL 17 Gladiolus St 2021 9,650 0.24 mi
W 2nd St Market St 2005 2,950 0.25 mi
IL 1;IL 17 2021 7,600 0.28 mi
IL 1;IL 17 Harvard St 2021 6,700 0.32 mi

Listing Broker

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