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DOM: 107 Updated: 07.24.24 Posted: 10.27.23 Status: Sold 02.12.24

Summary

Price $1,297,000
Built/Renov 2016
Tenant Dollar General
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,026
Lease Start 02-04-2016
#Units 19,294
Price/SF $143.70
Expiration 02-04-2031
Tenant Type Dollar/Discount
NOI $87,532
R. Term 5.9
Ownership Fee Simple
Rent/SF $9.70
Increases 10.0%/7/yrs
Pop 5Mi 18,171
Lot/AC 1.36
Options 3/5yrs/10%
AHHI 5Mi $84,734

Lease Highlights

  • Dollar General has 7+ years remaining on the base term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate lease | Dollar General Corporation
  • Investment grade tenant (S&P: BBB)

Location Description

Dollar General is conveniently located on N. Main St./Rt. 271 which sees approximately 10,900 vehicles passing by daily. The property is within close proximity to both Gladewater High School (489 students) and Gladewater Primary School (363 students), as well as several businesses including FourStates Wholesale Distribution and American Real Estate Services, all of which provide a strong...

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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 : 2,013 8,687 18,298
2023 Total Population : 1,998 8,555 18,154
2023 Employed Civilian Pop : 904 3,606 8,091
2023 Total Businesses : 48 326 497
2023 Average Household Income : $ 65,643 $ 66,511 $ 80,772
2023 Total Consumer Spending : $ 46 M $ 187 M $ 475 M
2023 Median Age : 37 40 40
2023 Total Households : 803 3,214 6,759
2023 Pop Age 25+: Bachelor's Degree : 100 578 1,809
2023 Average Home Value : $ 207,077 $ 242,469 $ 242,376
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Main Street N Martha Dr 2021 11,164 0.05 mi
North Main Street Vesta Ave 2020 9,132 0.05 mi
North Main Street NE Loop 485 2021 9,183 0.09 mi
North Main Street Vesta Ave 2020 8,936 0.09 mi
E Sheppard Dr N Florence St 2013 817 0.12 mi
Smith St 2021 5,086 0.37 mi
E Gay Ave 2013 935 0.56 mi
W Gay Ave N Main St 2013 4,298 0.57 mi
N Martha Dr Jeanette Ave 2013 318 0.60 mi
N Main St Lafayette Blvd 2013 7,650 0.62 mi

Listing Broker

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