loader
Join Free
Zeekin

Dollar General

217 North Main Street, Boiling Springs, NC 28152

$1,005,000

Cap Rate 6.25%

Updated: 01.29.24 Posted: 09.15.23 Status: Sold

Summary

Price $1,005,000
Built/Renov 2003
Tenant Dollar General
Cap Rate 6.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 8,000
Lease Start 04-01-2023
#Units 19,294
Price/SF $125.63
Expiration 03-31-2030
Tenant Type Dollar/Discount
NOI $62,820
R. Term 4.10
Ownership Fee Simple
Rent/SF $7.85
Increases 10.0%/5/yrs
Pop 5Mi 14,636
Lot/AC 1.00
Options 3/5yrs/10%
AHHI 5Mi $80,910

Sam Young
Atlantic Capital Partners
Contact

David Hoppe
Atlantic Capital Partners
Contact

Lease Highlights

  • Dollar General recently exercised their first lease extension
  • Tenant currently has 6+ years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features a 10% rental increase every 5 years
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Dollar General Corp. (NYSE: DG)

Location Description

This 9,100 SF Dollar General is strategically located on N. Main St, Boiling Springs’ main retail corridor (9,200+ VPD). It is less than a half mile (2-minute drive) to Gardner Webb University, which boasts a 3,500+ total student body population and averages 4,100+ fans per football game. Nearby retailers include Ingles, Bojangles, CVS, Dollar Tree, and O’Reilly Auto Parts, creating a strong...

...

Key Features

  • In location for years

  • Major thoroughfare

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Recently extended lease

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Dollar General Wikipedia Dollar General Wikipedia Boiling Springs, North Carolina Zip Code 28152 Broker Site Page

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,769 7,885 14,474
2023 Total Population : 2,826 8,053 14,636
2023 Employed Civilian Pop : 1,003 3,266 6,224
2023 Total Businesses : 112 196 326
2023 Average Household Income : $ 89,591 $ 81,986 $ 80,910
2023 Total Consumer Spending : $ 58 M $ 198 M $ 388 M
2023 Median Age : 26 35 38
2023 Total Households : 753 2,779 5,448
2023 Pop Age 25+: Bachelor's Degree : 261 872 1,702
2023 Average Home Value : $ 204,475 $ 211,465 $ 222,533
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Main St Woodland Ave 2018 9,200 0.18 mi
W College Ave Memorial Dr 2018 5,900 0.33 mi
SR 1158 N Main St 2020 2,100 0.37 mi
East Homestead Avenue Annies Cir 2021 2,300 0.37 mi
West Homestead Avenue N Main St 2021 1,100 0.38 mi
East College Avenue Cove St 2021 7,900 0.38 mi
East Homestead Avenue Oliver Ave 2019 2,400 0.40 mi
South Main Street Quinn Cir 2021 9,200 0.49 mi
N Main St Oliver Ave 2004 6,100 0.49 mi
Stadium Drive W College Ave 2021 2,200 0.57 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

Company

© COPYRIGHT 2024 NET-TRADE. ALL RIGHTS RESERVED.

TERMS OF USE PRIVACY POLICY USER PLANS
my activity