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DOM: 161 Updated: 05.21.24 Posted: 11.07.23 Status: Sold 04.17.24

Summary

Price $1,987,500 $2,010,000
Built/Renov 1998/2023
Tenant Dollar General
Cap Rate 6.82% 6.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 11,092
Lease Start 11-01-2023
#Units 19,294
Price/SF $179.18 $181.21
Expiration 11-01-2033
Tenant Type Dollar/Discount
NOI $135,576
R. Term 8.5
Ownership Fee Simple
Rent/SF $12.22
Increases 10.0%/10/yrs
Pop 5Mi 36,556
Lot/AC 1.34
Options 2/5yrs/10%
AHHI 5Mi $82,947

Lease Highlights

  • 2023 Renovations
  • Dollar General recently signed a brand-new 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Landlord responsibilities limited to roof, structure, and foundation
  • Corporate guaranteed lease (NYSE: DG)
  • Investment grade tenant (S&P: BBB)

Location Description

This newly remodeled Dollar General is strategically located at the signalized intersection of W Main Street and Rosser Avenue (U.S. Hwy 340) averaging 48,000 vehicles per day. It is ideally positioned 3 miles from I-64 (43,000 VPD), allowing customers to benefit from direct on/off ramp access. The immediate trade area is supported by surrounding retailers such as Planet Fitness, Kroger, Ross,...

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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 : 9,077 27,096 37,039
2023 Total Population : 8,971 26,686 36,556
2023 Employed Civilian Pop : 4,462 13,079 17,896
2023 Total Businesses : 401 1,038 1,379
2023 Average Household Income : $ 70,633 $ 75,680 $ 82,947
2023 Total Consumer Spending : $ 245 M $ 758 M $ 1103 M
2023 Median Age : 42 43 44
2023 Total Households : 3,969 11,502 15,337
2023 Pop Age 25+: Bachelor's Degree : 1,255 3,573 5,171
2023 Average Home Value : $ 271,623 $ 282,958 $ 313,452
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Broad Street N Magnolia Ave 2020 12,000 0.18 mi
West Broad Street Port Republic Rd 2021 13,000 0.18 mi
Rosser Avenue Ashby Dr 2021 10,000 0.22 mi
Rosser Avenue Dupont Cir 2018 11,000 0.22 mi
W Main St Grove Ave 2016 12,000 0.22 mi
W Broad St N Magnolia Ave 2016 13,000 0.23 mi
South Poplar Avenue W 11th St 2021 1,800 0.25 mi
South Poplar Avenue W 11th St 2020 1,500 0.25 mi
North Poplar Avenue W Broad St 2020 2,400 0.27 mi
West Main Street Wayneridge Rd 2018 11,000 0.27 mi

Listing Broker

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